When you run an online pharmacy, understanding Payment Card Industry Data Security Standard (PCI DSS) compliance is a must. That’s because this set of standards put forth by the major credit card companies is designed to protect customer data, and adhering to it is mandatory.
There are also several other compelling reasons why incorporating these requirements into your practices and procedures can benefit your company and customers.
1. Minimizes the likelihood of security breaches.
The standards that the card industry has put in place apply to any business regardless of size that receives, stores or transmits protected financial information.
PCI DSS requires, among other things, firewalls and strong passwords; protection of data through encryption; vulnerability management software and procedures; control of physical access and access to data; regular monitoring and testing; and the implementation of information security policies.
2. Fosters customer trust and business credibility.
Nothing shakes customer trust to its core faster than a data breach that compromises sensitive personal and payment data.
Although adherence to PCI DSS is not an ironclad guarantee that protects against criminal damage, instituting its recommendations minimizes the likelihood that your pharmacy and clients will be the next victims.
When you are in compliance with all industry and PCI guidelines and display certificates and security badges prominently on your website, customer trust will be boosted.
As a direct result, the reputation of your brand will be enhanced.
3. Helps you avoid financial and reputational repercussions.
If you comply with PCI DSS and are the victim of a data breach, you may still experience some serious negative after-effects.
However, you will not be slammed with the extensive financial penalties that non compliers face.
Partnering with a certified compliance expert allows you to shift the liability away from your business onto that vendor’s shoulders.
Depending on the agreement you have signed with them, they may even help you to salvage your reputation and offer your customers identity theft monitoring for the next year or two.
4. Aids in preventing system glitches and their consequences.
When criminals intrude on your operations and steal sensitive data, the effects are real and immediate. Not only will the breach be financially costly, but also it could lead to downtime for your business until mitigation procedures are instituted.
In a vital industry like yours, every minute that your store is offline means difficulties for your customers and lost profits for you.
The safeguards stipulated by PCI compliance reduce the chances that you will be targeted by cybercriminals.
In most cases, hackers seek the lowest-hanging fruit, targeting the companies that have lax practices and gaps in their security perimeters. Even simplified PCI compliance can mean the difference between being targeted and being passed over.
People trust your online pharmacy with one of their most treasured possessions: their health. Doing everything you can to protect your clients’ sensitive personal and payment data is one of your sacred duties as a representative of this industry.
Embracing and understanding PCI compliance just might be one of the strongest measures you can implement to look out for your company and the people you serve.
