Discover the Benefits of PCI DSS
A Brief Overview
The Payment Card Industry (PCI) Data Security Standards (DSS) applies to any entity that stores, processes or transmits payment card details and requires each entity to stringently abide by stipulated regulations. Regardless of the volume of payment card transactions an entity handles, they are obliged to comply with the PCI DSS.
Kyte is a Qualified Security Assessor Company that can offer their services to merchants, service providers and Financial Institutions in Europe, Middle East, Africa, North America and the Marshall Islands. We can support you in becoming fully compliant and can even review your operation to ensure that you are following PCI DSS guidelines.
How important is PCI DSS to the iGaming industry?
The mode of payment preferred by the majority of online gaming customers is via credit card. To improve customer experience and reduce the effort to deposit money, an operator needs to store the credit card data for repeated use. Once a company stores such information, processes and transmits credit card data, it must comply with the PCI DSS standard, which is specifically designed to secure systems and protect credit card data from being stolen.
What does PCI DSS Compliance checks and Certification consist of?
Most gaming companies follow ISO27001 to observe regulations or because it is good practice. As an Information Security Management System PCI DSS is similar to ISO27001, but specialises in securing Credit Card data. Scoping the exercise is the most important part of the process, where the main objective is to reduce the Card Holder Environment to the barest minimum. This process will then render the compliance process and certification review much simpler and cheaper. A reduced scope will also reduce the exposure of card data to theft.
How long does it take for a company to become PCI DSS compliant?
It really depends on the resources made available as well as the result of the gap analysis. It is not easy and straightforward since there are several controls that would need to be implemented.
PCI DSS is also about maintaining compliance. Moreover, dedicated resources must be allocated to the ongoing compliance, just like any other standard or regulation requires ongoing monitoring and management. Becoming compliant for the first time is challenging but not impossible. With the right project plan in place and advice from professionals, it is certainly achievable.
What are the advantages of becoming PCI DSS certified?
Nowadays, with all the hacking and stealing of data, customers do not get peace of mind from companies who simply say they are secure. Thus, it is no surprise they are reluctant to share their credit card details. Having the equivalent of a rubber stamp that states you comply with one of the most stringent and rigorous standards provides the assurance that they have the best protection available for the credit card data stored. This gives a competitive advantage over other operators who ask for the same data but cannot prove its adequately protected.
Kyte Consultants can assist you with PCI DSS Compliance as well as Certification. It is this approach adopted by some assessors in fact, which causes many companies to go over time and over budget in their efforts to achieve compliance. We acknowledge that a one-size fits all approach in interpreting PCI DSS requirements does not work. This is why we assess each company individually by taking into consideration its size, resources, business constraints and risk exposure.