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The Payment Card Industry or PCI is the authoritative body that oversees the security aspect of the financial transactions utilizing a card. Every unit involved in this type of financial transaction requires following certain rules and regulations. The chief aim for this is to enhance the security and ensure that the card information is in no way at a risk. The following are applicable on Automated Teller Machines or ATMs as per the directives issued by PCI:
- PCI Data Security Standards – these are applicable on all entities that store, process or transmit cardholder data.
- Payment Application Data Security Standard – these are applicable on all payment applications that store, process, and transmit cardholder data. This is part of the settlement and/or authorization process.
- PIN Transaction Security – this is especially important to keep PIN secure.
If you are about to start investing in ATMs, it is high time to brush up on your knowledge about the PCI security standards. For example, do you know that all ATMs need to have an encrypting PIN pad and that too one that is certified by PCI! Or that you need a tamper-responsive pad design for the machine.
In case you are setting one up for business purpose, choose only PCI Complaint ATMs. You can buy one or have one on lease, whatever suits your finances. This is the only way to ensure safety and security of the financial transactions that take place using the machine.
Setting up an ATM at your place may seem to be lucrative but it would only be advantageous if you were aware of the standards of the industry. Otherwise, you would end up buying a machine that could never comply with the security standards and would pose as potential risk for storing, processing or transmitting of cardholder data.
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