Today we’re excited to announce support for PCI DSS, Vanta’s latest integrated security framework centered on protecting customer cardholder data. The Payment Card Industry Data Security Standard (PCI DSS) is a global standard that applies to any business that accepts, processes, stores, or potentially impacts the security of cardholder data. And with Vanta’s PCI DSS solution, companies can automate up to 60% of the evidence gathering process needed to prove PCI compliance.
Support for PCI DSS only became more pressing this year with over 1,700 publicly reported data breaches – in just the first half of 2021. Of those breaches, credit card and financial data accounted for 32% of the 18.9 billion exposed records.
For many companies, and especially those in the payments, fintech, or insurance industry, demonstrating PCI compliance is a prerequisite to earning new business. And in most cases, a company’s largest customers will require that their vendors prove PCI compliance on an annual basis.
Yet, the existing ways of demonstrating payment and cardholder security remain labor and cost intensive. Companies spend weeks, if not months, researching and completing lengthy self-assessment questionnaires (SAQs). And with 8 different questionnaires to choose from and up to 76 pages to complete, these self-assessments remain an annual chore for most businesses on top of already expensive consulting fees for PCI templates and guidance.
For merchants with higher transaction volumes or service providers innovating in the field of fintech or online payments, preparing for and completing the required Report on Compliance (ROC) can take up to a year and be an immense drain on core operations and people.
That’s why we’re thrilled to introduce our streamlined approach to PCI DSS, which automates more than half of the work needed to prove compliance. Vanta’s PCI DSS product takes the guesswork out of getting PCI compliant and saves businesses time and money while enabling companies to successfully prove that their payment systems are secure and consumer data is protected against future data breaches.