PCI DSS Compliance in Dubai for businesses dealing with payment card data is given great importance and priority. PCI DSS Compliance is a global payment card data security standard established in the online payment industry. It is a standard created and adopted by major card brands (Visa, Mastercard, Discover, American Express, and JCB) to promote secure card transactions in the industry. So, businesses that deal with these credit card brands need to ensure compliance with PCI DSS.

The payment security standard outlines requirements that mirror the industry’s best security practices. So, any organization or business processing, storing and transmits cardholder data are required to comply with PCI DSS. It is an internationally accepted standard applicable to businesses across the globe. So, businesses that are a part of the payment card industry are expected to ensure PCI DSS Compliance in Dubai as well

What is PCI DSS Compliance? 

The Payment Card Industry Data Security Standard (PCI DSS) is one of the most stringent and comprehensive Information Security Standard designed for organizations that deal with online payment cards. Comprising of 12 requirements and multiple sub-requirements PCI compliance works as a guide for organizations in matters concerning with security of card data. 

Merchants and Service Providers are expected to protect the cardholder data of customers by implementing the highest level of security measures for protecting the systems, networks, and infrastructure comprising the card data. So, technically all Merchants and Service providers are contractually obliged to comply with PCI DSS requirements. This is to reduce and minimize the risk of payment data breaches and theft of cardholder data.

Benefits of PCI DSS Compliance

1.Security is Prime Focus

In PCI DSS Compliance security of payment card data is the prime focus. So, PCI  compliance in Dubai for business means establishing strong payment security measures in the cardholder data environment and the overall IT Infrastructure. Organizations are required to build multiple layers of security including firewalls, antivirus software, techniques of encryption, and software that helps detect and monitor threats in the payment card systems and network. Further, they need to have in places policies, procedures, and processes that support their strategy for overall IT and online payment security.

2.Builds Credibility

PCI DSS Compliance is an international payment security standard in the payment card industry. So, meeting the security standard requirement will help in building a strong business reputation and brand.  PCI DSS Compliance is not just about secure payment but also building strong credibility in the industry. The certification reflects secure operations and handling of card data. So, this builds credibility in the market and automatically a sense of trust among customers. Trust is an important factor in the success of any retail or online business and PCI DSS Compliance will help cement the trust of customers in your business. 

3.Prevents Data Breach

Since PCI DSS is an industry best payment security standard and practice, the chances of a data breach are low. The PCI Requirements outlines a comprehensive list of operational and technical security measures that ensure the highest level of security is met for processing or storing sensitive customer data. So, this way businesses turn out to be less vulnerable targets to cybercriminals. Hacking businesses with strong encryptions, firewall installations, etc. makes it harder for hackers to hack into systems and create a breach. So, achieving and maintaining PCI DSS Compliance is a wonderful way of preventing data breaches.

4.Global Payment Security Standards

PCI DSS is a globally accepted payment security standard and framework. So, be it any business in Dubai that plans to process, store or transmit card data will need to meet the PCI DSS Compliance requirements. This allows organizations to scale their business globally among other international players who are compliant with this international security standard and data protection program. Compliance with this standard gives a competitive edge to businesses on a global platform. 

PCI DSS 4.0 is the latest version of the Payment Card Industry Data Security Standard. The latest upgraded standards are expected to be released anywhere between the end of 2020-mid 2021. Similar to all the previous versions of PCI-DSS, the latest upcoming version 4.0 will be a comprehensive set of additional new guidelines for securing systems involved in the processing, storage, and transmission of credit card data.

The latest version is a updated set of mature standards that focuses on an “outcome-based” approach rather than a “must-implement” based approach. So, while organizations will still have to meet PCI DSS standards, however, they will have the freedom to select their approach towards meeting those standards. Organizations will no longer be expected to meet PCI standards word by word. As long as they can meet the standards adopting a robust approach organization are good to go.

Let us today through this article understand the intention of rewriting the set PCI DSS Standards with additional requirements by the PCI Council. The article will clearly outline the intention and also highlights the key changes anticipated with the upgraded version of PCI DSS 4.0

What is the intention behind the PCI DSS 4.0 update?

While PCI DSS was is considered a fairly mature Standard, the intention to upgrade it with an updated version 4.0 is to meet the growing requirements of the evolving security threat landscape to the payment data. The following are four major reasons behind upgrading PCI DSS 3.21 to PCI DSS 4.0.

Ensure the standard continues to meet the security needs of the payments industry.

Provide flexibility and support of additional methodologies to achieve security. 

Promote security as a continuous process.

Enhance validation methods and procedures.

Upgrading from PCI-DSS 3.21 to PCI DSS 4.0

PCI-DSS 4.0 which is officially set to release anytime between the end of 2020 or early 2021 is expected to improve the existing PCI-DSS 3.2.1 version in a few ways.

1. PCI-DSS 3.2.1 which is the current standard includes a series of objectives and very specific and stringent requirements that outline how companies must achieve their goals of Compliance. In other words, the standard set is extremely onerous. So, businesses that are not able to follow these steps to compliance implement compensating controls. This is a tedious and time-consuming procedure that requires an organization to go way beyond their intended primary controls.

2. PCI-DSS 4.0 on the contrary intends to replace the existing compensation controls with an alternate option of adopting a customized implementation approach. This alternate approach allows the entity to design and develop their security controls to meet Compliance Standards. So, as per the latest version, the organization has to determine the security controls for a given objective and accordingly submit detailed documentation outlining the approach adopt to achieve compliance and demonstrate its effectiveness to the Qualified Security Auditor (QSA). Based on the analysis of the documentation submitted the QSA takes a final decision on the effectiveness of the control.

3. The use of Cloud and server less computing is another key area addressed in the PCI DSS version 4.0. The security controls of the existing Version 3.2.1 were not designed for the current IT landscape. Whereas the PCI DSS 4.0 is expected to introduce an updated set of requirements and approach to securing cloud and server less data. Learn here more about : PCI DSS and Cloud Security.

4. Businesses can also expect the introduction of new control requirements in context to the expansion of the encryption of cardholder data over any transmission within trusted networks. Moreover, one can expect additional control requirement updates pertaining to passwords/login access with multi-factor authentication.

Anticipated changes in the PCI DSS v.40

While the 12 core requirements of the PCI DSS will remain the same, several new requirements are set to be introduced. The new requirements are intended to address the evolving security threats to payment data. Further, to bring in better flexibility in terms of adopting an approach to achieving compliance new rules and requirements have been set. Going ahead, to understand the new changes, we have listed the key changes that are anticipated in the updated version PCI DSS 4.0 and what an organization can expect from these probable changes. 

Key Changes anticipated in the latest version PCI DSS 4.0

Flexibility in Implementing procedures

Introduction to Customized Implementation as a replacement to compensation control is one of the major changes expected to be introduced in the latest version of PCI DSS 4.0. The new approach shall define security outcomes for every security control requirement. With this new approach companies can comply by adopting a customized approach and showing their intent of the requirement is met without having to provide any operational or technical justification. This will enable more flexibility in implementation procedures and meeting requirements intent of Compliance. However, the company needs to provide a detailed document to the QSA justifying the effectiveness of control with a custom implementation. The QSA will have to validate the same by running thorough tests to ensure the effectiveness of controls and verifying whether the company is Compliant. 

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Stringent security requirements-

While several new requirements will be introduced in the latest version PCI DSS 4.0, the ultimate goal of PCI DSS shall continue to remain the same, which is ensuring all entities are compliant to the standard in context to securing cardholder data that is stored, processed, and transmitted. Assuming the establishment of a higher benchmark in comparison to PCI DSS 3.21, the PCI Council is set to restructure many requirements and include a much more stringent security standard for achieving Compliance. 

Multi-factor authentication

The PCI SSC has for long been working with the Europay, Mastercard, and Visa consortium to improve the authentication standards for both control process access logins and payment processes. Keeping this in mind, the latest PCI DSS 4.0 version may focus on the use of a 3DS Core Security Standard for secure transaction authorization. As per the 3DS standard, it enables an organization to build pluggable authentication options for enhanced security and customer authentication. This step will not just ensure that controls meet the regulatory requirements, but shall also enable scalability to the company’s evolving transaction objectives.

Data Encryption

Prevailing cybersecurity threats in the industry calls for a more secure cardholder data protection measure. One of the key challenges that need to be addressed involves the use of malicious code that penetrate the trusted network. To address this very issue, PCI DSS 4.0 will provide necessary measures and guidelines for adopting industry-best security practices. This will ensure secure network transmissions of cardholder data.