Several businesses, especially payment vendors, are very much on the lookout for the latest release of the PCI Data Security Standard (PCI DSS) validation program. The PCI Security Standards Council (PCI SSC) is set to release it no later than March 2022.
As a business, your clients will entrust you with their card data as they transact and perform billing purposes. If there are any financial leaks or data breaches, you should take all measures to redeem security control.
That’s why PCI DSS are created to protect not just your business, but your customers’ data too. Read on to know more about PCI DSS and the changes it will adopt this 2022. Whether you work for a payment vendor or a participating organization under PCI SSC, this guide will be beneficial to you.
What is PCI DSS?
PCI DSS, also known as Payment Card Industry Data Security Standard — is a set of security standards formed by Visa, MasterCard, Discover Financial Services, JCB International, and American Express.
The core mission of PCI SSC as a compliance and regulatory board is to protect all credit and debit card transactions against data theft and fraud.
However, the council has no legal authority to require compliance. But as an establishment that processes payment cards, it is essential to become PCI compliant.
Apart from level-based certification, as a business, you have to safeguard sensitive data and information you contain. This creates a stronger business reputation and long-lasting relationships with your customers.
PCI DSS vs. PA DSS
With all these almost same-looking acronyms, it might confuse some of us. How are they different from one another?
PCI DSS and PA DSS are both sets of policies and security standards applied to all payment vendors. Their main difference is where their security standards apply.
The security standards for PCI DSS cover all companies that use cardholder data, while stipulations of PA DSS apply to all vendors that use payment applications. PA DSS is also under the management of PCI DSS.
The thing is, PA DSS is set to expire this year.
The main reason why PCI Software Security Framework (PCI SSF) produces a rollout replacing the program. The new validation program will still include security standards of PA DSS in pursuit of developing a new validation and payment software.
Changes in the PCI DSS and PA DSS
To elaborate further, here are the main changes that will apply to the list of PA DSS payment applications in 2022.
New software programs
This year, new developments will arrive as the PCI SSC releases its new validation software program.
The program is called Secure Software Lifecycle and Secure Software Programs. These two will be beneficial to the security of payment software vendors. These programs will showcase development practices that directly address software security to protect all payment data.
These are all part of the PCI SSF new version of rollout, which provides standards that aim to secure the maintenance of the existing and future payment software.
With that being said, PCI SSF will then adjust the scope of the PA DSS.
New documents
According to the Security Council, new developments such as grants are still being incorporated in their validation documents. These documents include Self-Assessment Questionnaires (SAQ), Report on Compliance (ROC), and the council’s Glossary.
Since there’s a relatively larger portion of changes in the revised version, the PCI Council simultaneously announces that participating organizations will receive a preview version of the version first before releasing it to the public.
PA DSS changes will be gradual
The PA DSS new validation program will be under the PCI SSF. The council ensures that all new developments will be processed into a gradual transition.
This is to allow current investments in PA DSS to work freely while they set the pace for the changes in investments. Only after the validation program’s launch will the gradual transition begin.
All current PA DSS validated payment applications will still be processed under the PA DSS program up until its expiration date. At that point, new updates to PA DSS new payment applications should be processed under the PCI SSF.
Understanding compliance with PCI DSS
If you run a business that handles, stores, and transmits all credit card payments online, understanding these changes in compliance will save you from all the financial hassle.
Given all the high volume of payment data you can acquire, you must be aware of these changes to ensure security and compliance – whether you are in the e-commerce industry or financial services.
Becoming PCI compliant means you want your systems breach-free, secured and trustworthy for your customers. Sensitive information such as payment card information can make or break your business.
If properly taken care of, this leads to customer satisfaction and retention. PCI DSS ensures that all steps needed to achieve better financial handling are taken care of.
