The payment card industry data security standard (PCI DSS) calls for all financial institutions and merchants to protect their clients’ sensitive data, which typically includes the use of strong cryptography as dictated by PCI DSS requirement 3. Most organisations empty this burden on the IT department or IT management teams and hope all their compliance is covered. However, in most cases when there is a data breach, the burden lies on the shoulders of the C-level management, who are left to answer to the difficult questions.

The Payment Card Industry Data Security Standard (PCI DSS) helps to safeguard cardholders’ private information. The Payment Card Industry Security Standards Council (PCI SSC) enforces the standard through recommendations and requirements that aim to ensure security across all organizations involved in the processing of cardholder information.

A key management system is a critical component in achieving PCI DSS compliance for a banking institution. It involves implementing a crypto system that manages the secure creation, exchange, distribution, storage and use of cryptographic keys for the ultimate goal of protecting users’ or clients’ sensitive data.

Payment Card Industry Data Security Standard (PCI DSS) is an information security standard to prevent credit card fraud and protect against numerous additional security threats & vulnerabilities.

Payment Card Industry Data Security Standard (PCI DSS) is an information security standard to protect against credit card fraud and numerous additional security threats & vulnerabilities. Credit/Debit card providers, such as MasterCard and Visa etc., implement the mechanisms and security controls specified and suggested in PCI DSS.

This article highlights the NIST key lifecycle recommendations in relation to PCI DSS compliance.

The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard to prevent credit card scams and numerous additional security threats & vulnerabilities.

EMV chips on payment cards contain cryptographic co-processors and dual interfaces that allow for contact and contactless payment options. When issuing an EMV card, the customer’s information is extracted from the bank or financial institution’s database.

Migrating from magnetic stripes to EMV based smart cards is a challenging endeavour for banks and their IT teams. Even for small banks, necessary card data preparation rapidly overshoots the level of millions of data entries. In the frame of the migration process, banks need new systems and new processes, interweaving additional external entities.