For companies in the fintech industry, data security is the core. After all, three-quarters of all data breaches occur out of financial motivations. Cybercriminals often target the transmission, processing, or storage of payment card data. Companies such as web shops, hotels, and corporate booking tools possess large quantities of sensitive data.
So, how can these organizations develop effective policies to protect this data?
To aid fintech organizations in achieving maximum data security, a consortium of major credit card companies has drawn up a directive. The PCI DSS standard of the Payment Card Industry Security Standards Council consists of 12 payment card data security criteria. However, how do you implement a data security policy that effectively meets these 12 criterias? Moreover, how do you stay compliant with this data security gold standard without incurring high costs?