Privacy & Compliance Awareness
Payment Card Industry Data Security Standard
The major credit card issuers created PCI (Payment Card Industry) compliance standards to protect personal information and ensure security when transactions are processed using a credit card. All members of the payment card industry (financial institutions, credit card companies and merchants) must comply with these standards if they want to accept credit cards. Failure to meet compliance standards can result in fines from credit card companies and banks and even the loss of the ability to process credit cards. University areas accepting credit cards as payment are considered merchants and are responsible for their compliance under the standards.