Discover the upcoming revisions related to the PCI DSS or Payment Card Industry and Data Security Standards! Find out all the information, insights, and events!

The new revisions incorporated in Payment Card Industry and Data Security Standard or PCI DSS in the last version or 3.2 officially went live on Oct. 31, 2016. The newest revisions include compliance monitoring and multi-factor authentication and also offer various descriptions and resolutions to other issues who are unrelated to the system and standard. If you want, you can see the complete list of changes on their official website. Here’s some of the most popular articles that you can check:Designing for Mobile First – Why It is Important to Design for Mobile First

Payment Card Industry or PCI is the company that updates, and sets credit and debit card security regulations and resolves the current standards in order to follow the changes in the technical and business area. The PCI Company was established in 2006 by Discover, American Express, Master Card, Visa, and JVB International. They all share the execution as well as the governance of the PCI’s updates and activities.

Here is a short summary of the revision – The new rules demand the card administrators to utilize multi-factor authentication in order to classify themselves when entering important credit card information and personal cardholder data (whether they access the system remotely or onsite). Before, the administrators only needed authentication when they were on an unreliable or unsafe network.

A multi-factor authentication is an approach which includes a computer access where the user is allowed to enter only after presenting a few separate evidence to a special authentication mechanism. This mechanism usually includes at least two of these categories – possession, knowledge, and inherence. The possession is something they already have including a credit card or a token, the knowledge is something they are familiar with, and inherence is something that describes them or something they are.

PCI is looking to strengthen almost all aspects, by expanding this requirement in order to cover all networks.

If you haven’t updated the latest version yet, this is an ideal time to do so. After the release of PCI DSS on Oct.31, 2016, all companies should upgrade the system. All experts in this area, recommend that merchants and companies should start planning to update the system in order to adhere to the new 3.2 version of PCI DSS. All companies should modify their financial security programs and start prioritizing PCI compliance as a successful solution.