5 Tips to reduce PCI compliance costs

Businesses that process credit cards should consider implementing certain safety measures to prevent potential threats. Moreover, it is necessary to know how to set up them properly that will help manage a business without any hassles. Retail stores and online stores must abide by PCI compliance regulations for overcoming complications significantly. Having a PCI- compliant payment terminal enables merchants to provide high protection to cardholders that eliminate security threats. On the other hand, the costs may vary depending on a company and security measures. Many organizations treat PCI DSS as expensive and they should know how to lower them effectively.

Here are some tips to follow for reducing compliance costs.

1. Tokenization 

Tokenization is one of the best ways to minimize PCI compliance costs because it gives ways to replace sensitive data with a unique code.  Since it a safer practice, business owners can prevent the data from hacking, breaching, theft, etc. This will help a lot to save money on the expenses to experience peace of mind. 

2. Network isolation 

Cardholder Data Environment (CDE) plays an important role in processing, storing, and transmitting sensitive data. However, business owners should consider connecting a small number of devices to access CDE. At the same time, it will limit daily tasks when employees want to perform them. It is wise to separate those devices physically from the rest of a system to minimize expenses. 

3. Dedicated devices

Another way to reduce PCI compliance costs is to utilize dedicated devices in an isolated environment. They will provide methods to interact with systems located in CDE boundaries enabling businesses to reduce system access outside. At the same time, it is essential to know the downside in detail because it will create some problems. 

4. Point-to-point encryption 

Point-to-point encryption enables businesses to minimize PCI compliance costs that will reduce the expenses. The technique involves encrypting cardholder details directly at the terminal without any decryption until they reach a payment processor. Those who are having a point of interaction (POI) devices can benefit a lot from this technique enabling them to overcome complications. 

5. Utilizing secure payment gateways 

Finding a secured payment gateway may become a challenging one for merchants and they have to get ideas from different sources. Using the right gateway will lower compliance fees letting merchants focus more on their goals significantly. 

6. Installing updates 

Businesses should upgrade their software and hardware components regularly to prevent security threats. Besides that, it contributes more to reduce PCI compliance costs thereby showing ways to lower overall expenses. Installing updates provide ways to improve security to cardholders because they will minimize potential threats. Also, they play a key role in setting high standards in security measures to reduce risks. 

7. Choosing a PCI complaint hosting server

Merchants should with a PCI compliance hosting service provider to lower the costs. Online businesses must protect their websites from fraud and other issues. Nowadays, several hosting companies offer PCI complaint dedicated servers for merchants to accomplish goals with high success rates. 

Categories: Business

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