PCI PIN Security
The cashless economy has been encouraged in almost every part of the world and it has positively impacted the security of life, reduces the chances of theft, eases the stress of transaction, increase economic growth and helps authenticate and formalize the transactions that are done.
In a cashless society, financial transactions are majorly conducted through the transfer of digital information electronically. The advantages offered by these electronic transactions are immeasurable but nothing comes with merit without demerit. Increase in electronic transactions has also increased the rate of cybercrime. For a complete solution against transaction insecurity, there is a need to secure online transactions and ensure total confidential of important data such as Personal Identification Number.
PCI Security Standards is the global forum responsible for the control electronic payment security and PCI PIN Security Standards are what they considered as the acceptable means of protecting confidential data most especially Personal Identification Number (PIN).
PCI Security Standards is responsible for setting requirements that will guide the management and transmission of data during all transaction either online or offline and ensure adequate security and uncompromised electronics transaction every time regardless of the device and means of transaction used (POS, ATM or Online Transactions).
Why Comply With PCI PIN?
The PIN is the key authentication data and access way to all transactions, and any compromise or breach of security can result in a huge financial loss. The cashless transaction reduces the rate of criminal acts such as theft but just as the authorities are improving technologically to improve on the security of life and property, the perpetrators of the fraudulent acts are also working tirelessly to ensure people fall victim. Authentication data like PIN landing into their hands can result in fraudulent transactions which will not only affect the owner of the money but also the operator of the payment terminal where the act is being carried out.
Therefore, protection of PIN is very important, and this can only be achieved through the compliance with onsite PIN compliance validation and ensuring that all PIN Entry Devices are working in accordance with PIN compliance validation, meeting the 33 requirements laid down by PCI Security Standards for secure management, processing and Personal Identification Number transmission. The failure of the aforementioned may make the devices vulnerable to attacks and breach of data. Therefore, to ensure adequate security, a regular review of devices to ensure PCI PIN compliance is a necessity for all PIN Program organizations.
Why Work with GEM Security Solutions for PCI PIN Compliance?
Gem Security Solutions is one of the leading companies when it comes to PCI PIN Security Assessments. With a highly knowledgeable team with many years of experience in handling payment security, we have continued to offer professional services focusing on PCI Pre-Assessments, PCI PIN Assessment, PCI PIN Training, Remediation, and Requirements Documentation.
As a PIN Auditor we aim to understand our customers’ data security challenges and work with trending technology to make their digital payments a secure transaction while ensuring that their business is PCI PIN compliant. We offer advisory and compliances services to ensure all our customers are satisfactory served in any way possible.
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