The new PCI DSS 4.0 standards took effect officially on March 31, 2024. A one-year grace period was provided to give businesses time to adapt to the new rules before March 31, 2025. Businesses should start adopting these new standards right away to guarantee compliance and security measures are in place by the March 31, 2025 deadline or face hefty penalties.
Transition period
The new timeline included a one-year transition period for businesses to move from PCI DSS v3.2.1 to PCI DSS v4.0. The transition period gave businesses a chance to update their reporting templates and forms and plan for and make the necessary adjustments to meet the new requirements. Once the transition period wraps up officially on March 31, 2025, PCI DSS v3.2.1 will be retired, and v4.0 will be the only active version.
Missing the deadline
Aside from the clear financial penalties, not meeting new PCI DSS 4.0 standards can potentially lead to legal issues and ultimately damage trust with stakeholders and customers. Businesses will need to dedicate resources and make the necessary changes in order to steer clear of the negative impacts that come with missing the March 31, 2025 deadline. Focusing efforts on compliance will protect your business reputation and demonstrate your dedication to safeguarding sensitive information.
Prioritizing compliance
Taking a proactive approach to prioritize compliance with PCI DSS 4.0 in order to protect your reputation and ensure the security of sensitive information will help prevent costly data breaches and legal repercussions. PCI DSS compliance enables businesses to expand globally and meet international data security requirements.
- Invest in thorough testing and effective communication strategies to demonstrate commitment to data protection and avoid potential data breaches.
- Hire a certified Qualified Security Assessor from a third-party vendor to do a PCI DSS review and get a report of compliance (ROC). If your security has been broken, you may need to get an ROC to show that your systems are safe again.
- Stay informed about the upcoming changes and take action to comply before the deadline in order to maintain customer trust and safeguard your business.
Compliance checklist
To become PCI DSS 4.0 compliant, businesses should consider using the defined approach for version 4.0 and read the PCI DSS v3.2.1 to v4.0 Summary of Changes for a clearer understanding of the requirements. Staying vigilant with security controls while preparing for v4.0 is crucial for a smooth transition to the latest version of the compliance standards.
Compliance involves adhering to 12 PCI DSS requirements, covering areas like network security, encryption, vulnerability management, access control, monitoring, and information security policies.
To remain compliant, the following checklist from PCI Pal must be performed yearly.
- Understand the Scope of PCI Compliance. Identify the systems, people, and processes involved in payment processing. Determine which aspects of your organization fall under the scope of PCI DSS compliance.
- Complete an annual risk assessment.
- Ensure third parties that store, process and/or transmit card data have maintained PCI DSS compliance and are registered with the card schemes.
- If you are installing a third-party application in your contact center, simplify your compliance by ensuring the product and particular version used are Payment Application Data Security Standard (PA DSS) compliant.
- If you use an integrator to bring the products together, make sure they are certified to the required standard.
- Train your staff to follow PCI DSS procedures.
- Make sure you only store data that is essential and that it is encrypted and/or masked.
- Protect your data network and make sure you are using a firewall and up-to-date antivirus software.
- Perform network scans on a quarterly basis. These must be performed by an approved scanning vendor (ASV).
- You should also discuss security with your web hosting provider to ensure they have secured their systems appropriately. Web and database servers should also be hardened to disable default settings and unnecessary services.
- Annual Pin Entry Device (PED) tests need to be run to identify any vulnerability.
- Any software or hardware you use to process transactions should have approval from the Payment Card Industry Security Standards Council (PCI SSC).
Businesses handling credit card information must comply with the Payment Card Industry Data Security Standard (PCI DSS) to protect sensitive customer data. By March 2025, companies must implement updated security measures in PCI DSS v4.0, including enhanced password policies and multi-factor authentication. Failing to comply can damage a company’s reputation and erode customer trust. Investing in the necessary resources and expertise to achieve compliance with PCI DSS 4.0 is a wise decision that will ultimately benefit both the business and its customers in the long run.
