Indian Payment Card Industry Data Security Standard PCI DSS www.deekpay.com

IndiaThe Digital India programme launched by the government in 2015 and the demonetisation drive in November 2016 have given a huge boost to the country's digital ecosystem. In addition to initiatives such as DigiShala, the government is committed to creating an ecosystem for a 'cashless economy' in the country. Other initiatives such as the National Fibre Optic Network (NFON) and India's Unified Payments Interface ("IPI") are also in the pipeline.UPI), the introduction of the Bharat Money Interface (BHIM - internet based mobile application) can help in faster adoption and transition to digital payments.

This ultimately provides more opportunities for cyber pickpockets who try to steal credit card information,PIN codes, mobile wallets and stealing funds. Cybersecurity is one of the most critical challenges faced by stakeholders in the digital payments ecosystem. As more and more Indian users prefer digital payments, the likelihood of being exposed to cybersecurity risks such as cyber fraud, information theft and malware attacks is also on the rise.

Emerging Payment Models in India

India PaymentsOne of the biggest changes in the industry is the diversification of payment methods. Handheld devices have surpassed all other channels due to the ease and convenience of transactions. The Indian government and banks have taken several initiatives to promote the use of digital payments in urban areas and accelerate penetration into the country's hinterland. The government's push has also fuelled the interest of fintech companies that have the technology but lack the motivation. InReserve Bank of India, andNational Payments Corporation of Indiaand the Government in a joint endeavour.Unified Payment Interface of India (UPI), the Indian Monetary Interface (BHIM), BHIM AadhaarSystems such as the Indian Bill Payment System (BBPS) have laid a solid foundation for the digitisation of payments in India.

Here are the major digital payment methods that are popular in India today:

Credit Card Payments - Major payment brands such as MasterCard, VISA, AMEX, JCB, Discover and more. UPI applications such as BHIM. Wallet apps like Paytm, FreeCharge, PhonePe. AEPS (Aadhar Payment System). Mobile Banking.

Cybersecurity for Payments in India

Strong security across devices is absolutely necessary to ensure that sensitive data is not compromised in any way when using different digital payment methods.

For card data, India has PCI DSS (Payment Card Industry Data Security Standard), which is a set of strict guidelines designed to ensure a secure environment for storing, processing or transmitting cardholder data.

Wallet application compliance RBI(Reserve Bank of India) in RBI/DPSS/2017-18/58, Master Instruction DPSS.CO.PD.No.1164/02.14.006/2017-18 PPI (Prepaid payment instruments) Guidelines.

support sth. UPI paymentsThe service follows NPCI Guidelines developed in circular NPCI/UPI/OC No. 15B/2017-18.

What are the Payment Card Industry Data Security Standards (PCI DSS) in India?

The Indian Payment Card Industry Data Security Standards (PCI DSS) is a set of security standards committees established in 2004 by Visa, MasterCard, Discover Financial Services, JCB International and American Express. The compliance programme is managed by the PCI Security Standards Council (PCI SSC) and is designed to protect credit and debit card transactions from data theft and fraud.

In India, where the use of credit and debit cards is growing rapidly, PCI DSS compliance is critical for businesses to ensure the security of payment card data. While the PCI SSC does not have the legal authority to mandate compliance, it is a mandatory requirement for any business that processes credit or debit card transactions. Obtaining PCI certification in India not only protects sensitive financial information, but also helps businesses comply with local and global information security regulations. The certification is critical to maintaining customer trust and ensuring the integrity of the nation's payment system.

India Payments PCI DSS Compliance Level

The Indian payment card industry D-S-S compliance is divided into four levels, determined by the annual volume of credit or debit transactions processed by the organisation. The specific levels define the requirements that organisations must meet to remain compliant.

For service providers that process between 1 million and 6 million live credit or debit card transactions per year. They are required to complete an annual self-assessment questionnaire and undergo quarterly network scans by an approved scanning vendor (ASV). Providers that process between 1 million and 6 million live credit or debit card transactions per year fall into this category. They must complete an annual assessment using the SAQ and may also be required to conduct quarterly PCI scans. This level applies to service providers that process 20,000 to 1 million e-commerce transactions per year. They are required to complete an annual assessment using the relevant SAQ and may be required to conduct quarterly PCI scans. Merchants that process fewer than 20,000 e-commerce transactions or up to 1 million live transactions per year fall into this tier. They are required to complete a final assessment using the relevant SAQ and may be required to conduct quarterly PCI scans.

In addition, they must undergo regular internal security assessments to ensure ongoing compliance.

Indian Payment Card Industry and Data Security Standard (PCI DSS) Certification

PCI certification is defined by the PCI SSC and ensures that organisations meet stringent security requirements. Key practices include:

Installation of firewalls Encrypting data transmission Use of anti-virus software

In addition, organisations in India must restrict access to cardholder data and monitor access to network resources to comply with PCI security standards.

Compliance provides a valuable asset that informs customers that a business can conduct transactions securely. Conversely, the cost of non-compliance (both monetary and reputational) should be enough to convince any business owner to take information security seriously.

Data breaches that reveal sensitive customer information can have serious implications for businesses. Breaches can result in fines, lawsuits, reduced sales and serious damage to a payment card issuer's reputation.

After experiencing a breach, businesses in India may have to stop accepting CC transactions or may be forced to pay subsequent fees that are higher than the initial cost of compliance. Investing in a PCI security programme can go a long way towards ensuring that other aspects of your business activities are protected from malicious online actors.

Payment PCI DSS Compliance Requirements in India

The PCI SSC outlines 12 requirements for processing cardholder data and maintaining a secure network. These requirements are spread across six broader objectives, all of which are necessary for organisations to achieve compliance.

The firewall configuration must be installed and maintained. System password must be original (not vendor supplied). Stored cardholder data must be protected. The transmission of cardholder data over public networks must be encrypted. Anti-virus software must be used and regularly updated. Secure systems and applications must be developed and maintained. Access to cardholder data must be limited to what the business needs to know. Each person with computer access must be assigned a unique ID. Physical access to cardholder data must be restricted. Access to cardholder data and network resources must be tracked and monitored. Security systems and processes must be tested regularly. Policies dealing with information security must be maintained.

Advantages of Complying with PCI DSS for Payments in India

Compliance with PCI security regulations can provide businesses with a number of advantages, including protecting data and enhancing their reputation as a security-conscious organisation.

Enhance customer trust: pci security certifications help organisations build and maintain trust with their customers by ensuring the highest level of cardholder security. This trust drives repeat business and increases customer loyalty and brand reputation. Reducing the risk of data breaches: Implementing security controls and data protection procedures can significantly reduce the risk of data breaches. This proactive approach minimises the potential costs associated with a breach, such as fines, legal fees and reputational damage. Fraud protection: pci security requirements are designed to prevent and detect fraud, thereby reducing the risk of financial loss due to fraudulent activity. Ensuring compliance helps protect your business from the financial impact of fraud. Adherence to industry standards: Achieving this compliance reflects your organisation's dedication to industry best practice. This commitment enhances your standing with partners, stakeholders and regulators, demonstrating your organisation's position as a leader in information security.

Atpay - we are a professional provider of payment solutions and have been deeply involved for many years inIndia PaymentsWe have successfully provided payment functions for countless customers at home and abroad. We are fully confident in payment integration and high-risk payment processing, and welcome inquiries and exchanges.