PCI compliance is designed to protect both your business and your customers. It ensures that vital credit and debit card data is kept safe and that customers who are shopping in your store or are using your website can do so without needing to worry that their card information might be stolen. In spite of that, you might find yourself wondering, "Why is PCI compliance important?" Does it really matter for your business? If you've been on the fence about PCI compliance or you've been doing the bare minimum to get by, check out these reasons why it's critical that your business be PCI compliant.
PCI Compliance Increases Consumer Confidence
In the last few years, a number of big businesses have been targeted by hackers who were out to steal credit card data. These highly public breaches have ensured that most consumers have a pretty good idea of what can happen if their information isn't protected, and they're relying on your business to make sure that they're not in any danger. PCI compliance gives consumers the confidence that they can trust your business--and since your competitors are compliant, that could be the difference between customers who come to you and customers who walk away.
PCI Compliance Protects Your Business
Data breaches are costly for any business. The smaller your business is, the less you can afford the risk. PCI compliance secures your data and protects your business from those potential consequences. Don't assume that because you're a small business owner, you aren't at risk! More recently, hackers have begun targeting small businesses simply because they are less likely to have extensive security in place. Keep in mind that if you hold on to card data and experience a data breach, you may end up paying costly fines that your business can ill afford.
PCI compliance is critical both for your business and for your customers.
It protects both of you.
