For storage, processing, and transmission of personal data, both PCI DSS and EU GDPR base compliance on companies’ risk management efforts. Developing strong data security policies helps offset these risk and provides opportunities for businesses to efficiently address PCI DSS and EU GDPR compliance simultaneously. Although EU GDPR includes all personal data and cardholders’ details, applying the latest version of PCI DSS strategies can help with personal data protection that is required for EU GDPR compliance. By achieving PCI DSS compliance, organizations can meet the baseline security control standards that are required under EU GDPR.
Besides security controls, there is more to EU GDPR compliance. Following principles define how personal data is gathered, processed and stored:
If your organization achieves PCI DSS compliance, it can meet the baseline security control standards required under EU GDPR.
Credit cards use EMV technology (Europay, MasterCard and Visa), where a computer chip located on the card is used to lower the chances of consumer fraud and limit bank liability and credit card for fraudulent payment chargebacks. To use these chipped cards, entities should accept payment from these cards to upgrade their POS (point of sale) systems to accommodate the EMV chip cards.
Using PCI validated P2PE (point-to-point encryption) and tokenization helps in filling the security gaps that are created during initial EMV transactions. This is because they protect data both at rest and in transit in the merchant’s environment. The EU’s revised Strong Customer Authentication (SCA) and Payment Services Directive (PSD2) are compliance requirements that are required for all digital transactions. PSD2 is the European version of PCI DSS. Both PSD2 and EU GDPR came into effect around the same time. All merchants and card issuers must support Strong Customer Authentication and use two-factor authentication which requires users to prove their identity using two different elements from the following:
This requirement guarantees that electronic payment services are conducted in a secure manner and that organizations adopt technologies that ensure the safe authentication of the user. Payment methods like near-field communication utilize technologies in which a form of electromagnetic induction is used to communicate with other devices in close proximity. These technologies are becoming an essential element in maintaining security and compliance.
Organizations aiming for both PCI DSS and EU GDPR compliance must consult with security standards so as to make sure that all-important criteria are met for compliance audits. Any business attempting both PCI DSS and EU GDPR compliance must aim at recognizing and rectifying compliance gaps through vulnerability scans, reviewing all new and pending regulations that can possibly affect business practices and maintaining a strong compliance program. Performing frequent vulnerability and risk assessments is quite essential and also valuable for businesses’ compliance efforts, which include cybersecurity policy reviews, annual assessments, and vulnerability scans.
For PCI DSS compliance, policies must comply with commonly accepted cybersecurity practices for building and maintaining a secure network, like:
The top cybersecurity company in Bangalore, Neumetric says that these practices also assist with EU GDPR compliance requirements that obligate businesses to frequently demonstrate accountability, regardless of whether a cybersecurity incident occurs or not. The most efficient method to demonstrate this accountability is for a business to become compliant with the security standards of PCI DSS.
For instance, all businesses can take advantage from a reduction of information storage on customers or employees, which is a required EU GDPR policy. It is also one of the first activities conducted during a PCI DSS assessment known as scope reduction.
Another vital component of PCI DSS is to reduce the number of systems where cardholder data is stored and cut back the number of people with access to sensitive data. This PCI DSS policy ensures that data is adequately protected, which is another key element in complying with EU GDPR. In addition to this, other controls from the PCI DSS framework can be employed to show compliance to EU GDPR, like continuous employee training and education, vulnerability identification via Approved Scanning Vendors and risk management procedures.