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Four Benefits of PCI Security Compliance

( Published Monday, February 25, 2019)

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A secure digital suite in an Association is key to creating a trusting community, but what does it mean for an organization's software, website, and other digital communication platforms to be PCI compliant, and what are the major benefits of PCI compliance?

PCI Compliance Benefits

 

Consumer Confidence

Compliance with the PCI-DSS means your systems are secure, and customers can trust you with their most sensitive data, such as credit card information. Consumer confidence is a growing issue for businesses and entities who need to take payments online and over the phone. Increased identify theft, credit card fraud, and a variety of other scams are making consumers more concerned and afraid to give out their personal and financial information, even to establishments they trust.

Compliance solidifies your reputation with potential acquisitions and payment brands—the partners you need in order to do business.

Prevent Breaches

Data breaches are showing up in news stories almost monthly now, creating choppy waters for businesses requiring digital financial information sharing. It’s important to remember compliance is an ongoing process, not a one-time event. Maintaining compliance, specifically PCI compliance, helps prevent security breaches and theft of credit card data—not just today, but also in the future.

Opportunity for Efficiencies and Improvement

Compliance may provide some indirect benefits such as having a basis for a corporate security strategy and identifying ways to improve the efficiency of your IT infrastructure. No data sharing technology is optimized forever; often the improvement process involves working with a technology partner who is experienced at solving the problems you're facing, improving systems with automated solutions, and making your systems more secure and more efficient. This helps to increase and improve trust with the end-users sharing their data.

Avoid Costly Disasters and Fees

Not being compliant can be disastrous. Account data breaches can lead to catastrophic loss of sales, relationships, reputation, and depressed share price. Possible negative consequences also include lawsuits, insurance claims, cancelled accounts, credit card issuer fines, and government fines. With this in mind, it’s crucial to invest the time and resources to become PCI compliant before you lose money in the long-run without PCI compliance.

How to Choose a PCI Compliant Software


Your website, database, online payments, and communications systems must be secure. Consider these security components when evaluating your Association's management software:

  • PCI DSS level 2 compliance

  • Anti-Spam regulations (CASL in Canada; CAN-SPAM in USA)

  • Member data privacy and security

  • Backup power supply for data centers

One of the greatest risks to your organization is the security of your transactions and members’ personal information. Ivrnet has you covered with Payment Card Industry (PCI) Compliance, Canadian Anti-Spam Legislation, Privacy of Information, and secure (in Canada) data storage. We maintain commitments to governments and large corporations, and operate under the strictest security and compliance protocols. You have peace of mind knowing we are accountable to the highest standards.

Ivrnet has a 99.999% availability record. We are mission-critical for the delivery of services to governments in the case of a crisis. All of our systems have multiple redundancies. We even have a triple backup power supply. Ivrnet is the highest priority for power and telecommunications in the event of crisis or disaster. Want to test drive Ivrnet Central software for your organization? Schedule your free demo.

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