Who Regulates Merchant Card Services?

The Payment Card Industry Security Standards Council, or PCI SSC, regulates merchant card services, according to Merchant Warehouse. PCI SSC sets global requirements to ensure the security of customer credit card and debit card accounts.

Founding Members

American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc. established the PCI SSC to protect cardholder data. PCI SSC requires all vendors, organizations, developers and manufacturers of applications and devices that process cardholder data to comply with set requirements.

PCI Standards

According to Merchant Warehouse, the PCI SSC administers the PCI Data Security Standard, or PCI DSS, and Payment Applications Data Security Standard, or PA DSS. The PCI DSS requires anyone who stores cardholder data to protect it by using specific methods. The PA DSS requires that a PCI SSC-qualified security assessor validate all payment-processing applications.

PCI SSC Goals

The stated goals of the PCI SSC include maintaining a secure payment-processing network, protecting cardholder data, managing vulnerability within the system, restricting access and type of access to qualified users, monitoring and testing networks regularly, and maintaining a policy that protects network information.

References

• PCI Security Standards Council LLC: Payment Card Industry Security Standards
• Merchant Warehouse: Card Data Security