Financial transactions on BankBazaar have always been safe and secure. And this has got a major boost with our recent PCI DSS certification. Let’s find out more, shall we?
Since its inception, BankBazaar has consistently made efforts to create a robust, secure and glitch-free platform that will enable its users to carry out transactions and interactions seamlessly, minus the fear of losing crucial data and identity theft. Our efforts received a major fillip recently with our PCI DSS certification. So what does PCI DSS certification mean? Let’s find out more.
What Is PCI DSS?
The PCI DSS or Payment Card Industry Data Security Standard is a set of security standards created by Visa, MasterCard, Discover Financial Services, JCB International and American Express. This compliance scheme aims to make Credit Card and Debit Card transactions safe and secure against data theft and fraud.
Although PCI DSS are not legally enforceable, it is a requirement for any business that is into processing Credit Card or Debit Card transactions. PCI certifications make your business look credible-it is trusted by experts as the best way to safeguard sensitive data and information. This in turn, helps businesses build long-lasting relationships with their customers.
Additional Reading: What To Do When Your Financial Data is Stolen
PCI DSS certification involves a number of best practices. These include installation of firewalls, encryption of data transmissions and use of anti-virus software. A data breach can cost an organisation dearly- not just in terms of costs but also in terms of reputation. A breach may result in fines from payment card issuers, lawsuits, diminished sales and a severely damaged reputation.
Once an organisation experiences a breach, a business might have to stop accepting Credit Card transactions. In fact, they may even have to pay higher subsequent charges than the initial cost of security compliance.
Another proof of how seriously we take data security is our ISO 27001: 2013 certification for Information Security. ISO 27001: 2013 specifies the requirements for establishing, implementing, maintaining and continually improving an information security management system within the context of an organisation.
Now that you’re aware of the lengths we go to to keep all information that you share on our website safe and secure, feeling more confident to explore the variety of Credit Cards and Personal Loans on our site? Click the link below to start exploring!