AltPayNet regularly processes personal data and credit card information all across their payment processing services. How can you be sure they are adhering to international data protection standards, and are taking the appropriate measures to maintain that security?
AltPayNet processes card data daily – this is through their white label payment platform, e-Invoicing facility, and other market-specific payment products. They do so with their biggest data security undertakings, and becoming a PCI DSS Level 1 certified company and Payment Gateway Technology.
As a company taking this intermediary role in financial services, they know the importance of global data compliance and security. This is their foundation for providing the following services:
- White label payment gateway
- Industry specific merchant solutions
- Operational consulting
- Assessment and audits
- And risk management, among others.
AltPayNet’s PCI DSS Level 1 Certification is another solid proof of their commitment to deliver reliable solutions to their clients worldwide.
What is PCI DSS?
PCI DSS (Payment Card Industry Data Security Standard) is a set of information security regulations and standards that requires all businesses and organizations handling credit card data to comply. Credit card data refers to the card number, cardholder name, expiration date, and security code (CVV). PCI DSS is one of the biggest and most effective practices in the eCommerce space for fraud avoidance and financial data security.
This was formed in 2004 by Visa, MasterCard, Discover, and American Express, and administered by the Payment Card Industry Security Standards Council (PCI SSC). The primary purpose of PCI DSS is to prevent credit card fraud and security breaches by increasing controls over cardholder data.
The specific Data Security Standards (DSS) defined by the PCI SSC apply to all merchants dealing with cardholder data, regardless of revenue and transaction volume.
Compliance of PCI DSS is validated either annually or quarterly and is performed by a firm-specific Internal Security Assessor (ISA) or an external Qualified Security Assessor (QSA).
What are the Requirements to be PCI DSS Certified?
There are four levels of PCI DSS compliance, and each one includes 12 general data security requirements to meet.
- Install, configure, and maintain a firewall to protect cardholder data
- Must not use vendor-supplied defaults for passwords and other security parameters
- Protect stored cardholder data
- Encrypt cardholder data transmission across public and open networks
- Use and update anti-virus program
- Develop and maintain secure systems and applications
- Set restrictions on cardholder data access via business need to know
- Set a unique ID to each person who has computer access
- Set restrictions on physical access to cardholder data
- Track and monitor all network resources and cardholder data access
- Test security systems and processes regularly
- Maintain an information security policy for all personnel in the organization
These requirements apply not just with payment service providers like AltPayNet, but also to their clients processing credit card data. The compliance levels vary per annual transaction volume. If you are a small organization with less than 20,000 credit card transactions per year, your business may fall under Level 4. Meanwhile, businesses with the highest annual transaction volume of over 6 million per year will fall under Level 1. This is where AltPayNet’s PCI DSS certification falls under.
Once a payment processor is PCI DSS certified, this makes it so much easier for merchants to be compliant, no matter the business level. AltPayNet assists merchants for their very own PCI DSS compliance processes. This includes taking the Self-Assessment Questionnaires (SAQs), to having a Qualified Security Assessor (QSA) audit merchant offices for compliance.
How Can We Help You with PCI DSS Compliance?
PCI DSS is the international standard set out by the biggest payment networks. As far as laws are concerned, they are the central governing body of digital payments. Non-compliance can incur penalties for companies who do not adhere to the requirements.
The good news is that, if you’re not yet PCI DSS compliant, you can work with a PCI DSS certified payment provider like AltPayNet. The company also extends its services to include Cybersecurity Services and Solutions in order to improve client’s infrastructures and practices through consulting, technology deployment, assessment and audit with a wide array of solutions such as PCI DSS, ISO/IEC 27001, PA DSS, IS Audits, GDPR, ISO 22301, HIPAA, Cyber Security, MPAA, HITRUST, FedRAMP, SOC, CMMI).
We also offer in areas covering Risk Management Services (Enterprise Risk Management, Business Impact Analysis, Network Security Review Systems/Server Security Review, VAPT & Application Security Assessments), and Management System Services (Quality Management System, Environmental Management System, OHSAS).
With us, you are guaranteed secure, flexible, and seamless payments experience. Learn more about us at https://altpaynet.com/.