Your agency is required to show Payment Card Industry Data Security Standard (PCI-DSS) compliance, meaning it follows certain standards when handling cardholder information for major debit, credit, prepaid and ATM cards, and much more. In recent months, companies such as Constar Financial Services and Ontario Systems have announced their successful compliance with PCI DSS, and they have urged other debt collection companies to do the same.
PCI-DSS compliance assures your clients that you provide consistent quality performance within federal and state regulations, CPFB understanding and client standards. But while compliance is mandatory, it’s not always as easy as it seems.
To start, having a list of requirements and checklists ensures that you’re able to keep on top of certification and save money in the long-run. If your agency handles consumer credit card information of any kind, you need insideARM’s Compliance Guide: Payment Card Industry Data Security Standard (PCI DSS). We explain the flurry of acronyms, common mistakes and how to avoid them, and how to comply.
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