Browse Definitions :
Definition

Payment Card Industry (PCI)

The Payment Card Industry (PCI) is the segment of the financial industry that governs the use of all electronic forms of payment.

The PCI Security Standards Council (PCI SSC) oversees policies and technologies behind non-cash payments including transactions involving credit cards, prepaid cards, point-of-sale cards, e-purse, bank debit and ATM cards. In many places around the world, most payments made for goods and services go through the PCI rather than as cash transactions.

PCI organizations lease PCI hardware to commercial vendors of all kinds. A PCI authority known as an Approved Scanning Vendor (ASV) verifies compliance to the Data Security Standards (DSS) set forth by the PCI Security Standards Council. The ASV scans the vendor’s payment card network, ensuring minimum standards are in place and searching for vulnerabilities that might leave customer data exposed.

The PCI Security Standards Council was created by American Express, VISA, Discover, MasterCard and the Japan Credit Bureau in 2007. The PCI SCC is responsible for developing and managing the Payment Card Industry Data Security Standard (PCI DSS) and the Payment Application Data Security Standard (PA-DSS). 

This was last updated in June 2015

Continue Reading About Payment Card Industry (PCI)

SearchCompliance
  • ISO 31000 Risk Management

    The ISO 31000 Risk Management framework is an international standard that provides businesses with guidelines and principles for ...

  • pure risk

    Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.

  • risk reporting

    Risk reporting is a method of identifying risks tied to or potentially impacting an organization's business processes.

SearchSecurity
  • Pretty Good Privacy (PGP)

    Pretty Good Privacy or PGP was a popular program used to encrypt and decrypt email over the internet, as well as authenticate ...

  • cyberterrorism

    Cyberterrorism is often defined as any premeditated, politically motivated attack against information systems, programs and data ...

  • click fraud (pay-per-click fraud)

    Click fraud -- sometimes called 'pay-per-click fraud' -- is a type of fraud that artificially inflates traffic statistics for ...

SearchHealthIT
SearchDisasterRecovery
  • What is risk mitigation?

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • fault-tolerant

    Fault-tolerant technology is a capability of a computer system, electronic system or network to deliver uninterrupted service, ...

  • synchronous replication

    Synchronous replication is the process of copying data over a storage area network, local area network or wide area network so ...

SearchStorage
Close