What is Payment Card Industry Data Security Standard (PCI)?

The Payment Card Industry Data Security Standard is maintained by the Payment Card Industry Security Standards Council, a group created in 2004 after MasterCard, Visa, Discover, JCB, and American Express collaborated to create a universal platform to prevent fraud for whenever credit card information is being transmitted.

PCI Compliance currently has six objectives: to build and maintain a secure network, to protect cardholder data, to maintain a vulnerability management program, to implement strong access control measures, regularly monitor and test networks, and to maintain an information security policy. These objectives are maintained through a set of strict regulations merchants and payment service providers must follow to collect and transfer credit card information.