Interested in becoming PCI compliant? How much does it cost to become PCI compliant? Discover all information you need to know related to PCI certification cost!
Being PCI compliant and have PCI certification requires more than just filling out a document or PCI SAQ. Most of the work and resources goes into the preparation of business documents and procedures in order to ensure the safety and protection of cardholder’s data.
A lot of individuals (merchants, retailers) and businesses are confused about the finances they should set for PCI certification. In most of the cases, they budget too low, especially the small businesses which make it challenging for the IT departments to improve and upgrade the equipment to the newest security standards and make sure the businesses protects data safety and security. Here’s some of the most popular articles that you can check: Get more Sales with E-commerce Conversion Optimization – 10 Tips to Follow
So, how much does it cost to become PCI compliant?
There is no concrete answer as the cost depends on how many transactions the business process each year. There are two possible groups:
- Businesses that process more than 6 million MasterCard or Visa transactions per year – These businesses are also known as Level 1 merchants and they must go through an onsite information security audit by Qualified Security Assessor or QSA.
- Businesses that process less than 6 million MasterCard or Visa transactions per year – These businesses’ requirements are less tight as they don’t process as must as card information as the Level 1 merchants. However, these businesses are still required to be PCI compliant.
There are a few factors that may affect PCI compliance cost:
- The business type – Each type has different amounts of environment structure, cardholder data, varying risk levels, and etc. which means it has different requirements as well.
- The business size – The larger the organization – the more exposure it has. More programs, more staff members, more computers, and more cardholder data means a higher cost.
- The business culture – The data security is definitely one of the most important priorities one organization can have. This means that increasing the costs related to security is probably not a big deal.
- The business environment – The brand of computer, the type of mobile devices, the firewalls, the server one business uses can affect PCI compliance cost.
If you are a small business, PCI compliance will probably cost you around $300 per year, and if you are a large corporation, PCI will cost you around $70.000 per audit.
— Software News (@App_sw_) 17 de abril de 2017