In 2020, credit cards accounted for 27% of all payments, according to a study by the Federal Reserve Bank of San Francisco—the highest level since the study began in 2016. Debit cards represented 28%, while cash usage dropped to 19%, a seven-point decline from 2019. Other payment methods, such as ACH payments, bank account number transfers, online banking bill pay, and prepaid cards, made up the remaining 26%.
If your business accepts payment cards, you must comply with the Payment Card Industry Data Security Standards (PCI DSS) to safeguard customer information.
This webinar explains the fundamentals of PCI DSS compliance and how it applies to your business.
If you handle card transactions or store cardholder data, PCI DSS likely applies to you. However, understanding the specific steps to achieve compliance can be more complex.
PCI DSS sets out 12 key requirements for securing cardholder data, grouped into 6 main objectives. To be fully compliant, your business must meet each of these requirements.
A merchant is any business that accepts payments via cards from one of the five major credit card networks: American Express, Visa, Mastercard, Discover, and JCB.
Compliance with PCI DSS varies based on your business’s PCI compliance level, which is determined by the volume of card transactions processed annually and specific requirements set by your acquiring bank.
Here’s a breakdown of the merchant compliance levels:
• Level 1: Merchants processing over 6 million card transactions per year
• Level 2: Merchants processing between 1 million and 6 million transactions per year
• Level 3: Merchants processing between 20,000 and 1 million transactions per year
• Level 4: Merchants processing fewer than 20,000 transactions per year

A service provider is directly involved with processing, storing, or transmitting cardholder data on behalf of a merchant.
A company that provides services that control or could impact the security of cardholder data is also considered a service provider.
Common examples of service providers include:
Payment processors
Managed point of sale (POS) providers
Transaction processors
Payment gateways
Web hosting companies
Third-party marketing firms
Vendors that perform POS maintenance
Vendors that offer managed network firewall solutions
There are two compliance levels for service providers, which are determined by the number of transactions they store, process, or transmit.
Level 1: Service providers that store, process, or transmit more than 300,000 credit card transactions annually
Level 2: Service providers that store, process, or transmit fewer than 300,000 credit card transactions annually
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Benchmarked Learn is a treasure trove of our best technical tips and expert knowledge. Here you will discover all the valuable secrets and trends on cybersecurity, compliance and beyond.
Introductory meeting
PCI DSS assessment, review of policies and procedures, and gap analysis
Preparation of a report and presentation with concrete recommendations
Customized roadmap and plan: Our solutions address IT optimization, risk and compliance, and cybersecurity, providing a comprehensive plan for your business.
Do it yourself, or get help with benchmarked experts
Free PCI DSS Actionable Guide
Free PCI DSS requirements checklist
Free list of required policies