With the burgeoning popularity of online shopping and banking, credit card transactions are flourishing. Consequently, credit card fraud is on the rise.To combat this growing menace, the Payment Card Industry Data Security Standard (PCI DSS) was developed. The standard is mandated by leading credit card institutions like Visa and MasterCard. It requires businesses that engage in card payments to protect cardholder data and maintain the highest levels of information security. Non-compliance can result in high penalty fees and termination of transaction facilities.
