In our previous post, we discussed the 12 requirements of PCI DSS. Today, we’ll talk about how these requirements will affect your business.

How does PCI DSS affect your business?

PCI DSS is dramatically changing credit card payment processing. Here are some costs and benefits you should be aware of.

• Costly Upgrades. The state of your current systems will determine how PCI DSS affects your business. If your systems meet the current requirements, then PCI DSS will not affect your business. However, if your systems do not meet PCI DSS requirements, you may have to upgrade your systems. Speak to your payment processor about the most cost-effective way to become PCI DSS compliant.
• Safe Harbour Status. One of the main benefits of becoming PCI DSS compliant is that you will attain safe harbour status. Safe harbour status protects you from fines in the event of a security breach. In the unfortunate event that a customer sues you, the court will be more lenient with you if you have safe harbour status. In order to benefit from safe harbour status, all security requirements must be in place.
• Fines. If your business is not PCI DSS compliant, it may be audited, fined, or sued. In the worst-case scenario, your business may lose the right to process credit cards entirely.

What are the documentation requirements for PCI DSS?

Documentation requirements depend on your business’s volume of credit card payment processing.

• Businesses that handle up
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