PCI DSS compliance essential during busy summer period

With August just about behind us and spring knocking on our doors, many retailers will be preparing themselves for summer and the busy period that accompanies sunny weather and the Christmas holidays.

And the good news for businesses is that there are positive signs for the economy heading into this season.

Earlier this month, the Westpac-Melbourne Institute confirmed that the annualised growth rate of the Westpac-Melbourne Institute Leading Index – which aims to predict the level of economic activity three to nine months into the future – was at 2.4 per cent for the month of June 2012.

said Mr Evans in a statement released August 22.

However before businesses start taking on extra staff in order to ensure they are ready for the potential boost in sales, it is important that they evaluate their current security protocols in order to determine their level of PCI DSS compliance.

The Payment Card Industry Data Security Standard (PCI DSS) dictates a set of rules and regulations that all retailers who receive debit or credit card payments must adhere to.

Businesses who wish to ensure the safety and protection of their customers would be wise to regularly evaluate their PCI DSS adherence levels, not only to ensure they are meeting their legal requirements but to confirm they are meeting their ethical obligations as well.

Cybercrime incidents and data theft caused by poor security standards can be a blight on an unwary businesses reputation and can have massive ramifications down the line.

For that reason, now is as good a time as any for businesses to evaluate where they stand with PCI DSS compliance and determine the necessary steps to take in order to ensure they remain a safe and respected retailer long into the future.

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