Following in the wake of the news that a major card processor had been breached by hackers in the US, it is understandable that customers and clients are more wary when considering parting with their payment details online.
While Australian consumers are often protected from credit fraud by law – they are not liable to pay for the purchases and transactions they do not make – this does little to ease the disquiet of consumers who have had to cancel their cards in the past.
This is because the act of purchasing a good or service – whether it be in person or online – implies a level of trust that both parties are going to honour their end of the transaction.
On the customer side, the patron is placing their faith in the vendor to have the systems in place that protect their personal details – and by extension their financial assets.
Being able to demonstrate commitment in this area can be difficult without a visible certification from a leading authority – and for most businesses this is the payment card industry data security standard.
With an evolving set of guidelines that are laid out by leading industry providers, the PCI qualification means that a firm has the systems in place that actively protect their client's details, removing the opportunity for malicious parties to gain access to privileged information.