B2B ecommerce was already expanding rapidly coming into 2020, but COVID-19 has only accelerated the trend. According to McKinsey, 66% of B2B leaders now believe ecommerce solutions are essential, up from 48% pre-COVID.
If your B2B or consumer business accepts card payments—whether it is one or thousands—you must abide by the rules implemented by the PCI DSS. Credit card security regulations can be confusing but are essential to understand. Read on to see many of the most common questions answered.
What is PCI DSS?
It stands for Payment Card Industry Data Security Standard. This is a security standard that is in place for all businesses and organizations that handle cardholder information. It is designed to ensure that all merchants process, transmit, and store card details in a secure environment. The aim is the reduction of credit card fraud that is so frequently caused by data exposure.