What is PCI DSS?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of rules endorsed by Mastercard, Visa, JCB, American Express and Discover, that defines how data in credit cards ought to be protected. It increases security controls and creates a high level of accountability for organizations in order to prevent data breaches. Inasmuch as the PCI DSS is an optional standard, you can choose to implement it or not, the price that non-compliant vendors end up paying is very heavy. Vendors can pay up to $500,000 in fines in addition to revocation of credit card licenses.