For Goel Payment Solutions it’s a priority to make sure that our clients are able to conduct their business in a safe and secure environment. It is important for every merchant to be PCI compliant as it will protect them from security breaches and fines. That is why we provide information for our merchants on how to become compliant with Visa and MasterCard standards.

What is PCI?

PCI DSS (Payment Card Industry Data Security Standards) are a set of rules and standards that are set forth by the Visa and MasterCard Associations. These security standards are applied to the entire industry and require participation of all parties.

Why do you need to be PCI compliant?

PCI DSS are intended to safeguard merchants from security breaches that may result in theft of sensitive financial information. Merchants can be fined up to $100,000 in the event of data theft. PCI compliance will protect your business from security breaches and fines.

Who needs to be PCI compliant?

All businesses that conduct and store credit card transactions must be PCI compliant.

How to become PCI compliant?

In order to become PCI compliant you must to fulfill the following requirements.

  • Contact your Approved Scanning Vendor (This is usually provided through your Merchant Service provider). ASV should guide you through the compliance process. Goel Payment Solutions takes PCI compliance seriously and partners with a reputable PCI compliance solution provider that makes sure that our merchants are protected.
  • Complete the Self Assessment Questionnaire that is provided by the Approved Scanning Vendor.
  • Conduct a vulnerability scan through ASV on a quarterly basis. Thies scan is only required if credit card terminals are communicating through internet.
  • Complete the attestation and submit it to your Merchant Services provider.

Please feel free to contact us if you have any questions about PCI compliance or need assistance in becoming compliant.