Why is it important to be PCI Compliant?
Many people think PCI compliance is as simple as pausing and resuming a call recording at the time that sensitive credit card details are captured. In fact, there is much more to it than that. Payment card industry (PCI) compliance is adherence to a set of specific security standards that were developed to protect card information during and after a financial transaction. PCI compliance is required by all card brands. The Payment Card Industry Data Security Standard (PCI DSS) defines the need to secure cardholder data that is stored, processed or transmitted by merchants and processors.
Why is it important to be PCI compliant?
Being compliant with PCI DSS demonstrates that a business is doing its best to keep customers’ information safe and secure, out of the hands of people who could use that data fraudulently. Not holding on to data reduces the risk that customers will be affected by fraud.
If a business loses card data i.e. suffers a data breach and it is not PCI DSS compliant it could incur fines and be liable for the losses incurred against these cards and the operational costs of replacing the accounts. In 2015, for example, staysure.co.uk, an online travel insurance company that stored sensitive payment card details in breach of PCI DSS requirements was fined £175,000 by the UK’s Information Commissioner’s Office (ICO) after the data was stolen by hackers.
You need to remember though that these PCI DSS specific costs are just part of the story. Organisations should not look at this in isolation. Instead they need to consider the issue of quality of service and PCI compliance as part of their wider performance quality obligations and requirements across the whole contact centre and even the entire organisation. It should be part of overall quality management, call recording and speech analytics approach in the contact centre.
In conclusion, your contact centre is at risk if PCI compliance is not met. A contact centre solution that safe guards you from any potential breaches through compliance, will eliminate all worries surrounding the subject. Autom8 Enterprise’s contact centre solutions comply with current and future regulations, ensuring that our clients are never at risk.
For more information about our Autom8 Group products contact us and we are more than happy to help.