Card Storage
The PCI DSS (Data Security Standard) is a set of 12 requirements that all
merchants that process or transmit sensitive credit card information must adhere
to. Non-compliance can in some cases result in fines and penalties.
It is however possible to mitigate many of the most difficult compliance issues
through a system called Tokenisation, which can usually be easily and affordably
integrated into your existing procedures. Using the ʻtokenʼ system, all
sensitive payment data is replaced by a randomly generated, totally unique ID
number. You can then use the ʻtokenʼ to access your customer records and manage
transactions securely through our Transaction Management interface.
Because our Payment Gateway and systems are PCI Level 1 certified, using Lateral
Payments Solutions will automatically protect your customers’ sensitive data and
alleviate the need to gain your own PCI compliance. Other than being a major
time-saver, it will also dramatically reduce the cost of gaining compliance,
often by as much as 90%.
By using our Data Tokenisation service you will automatically mitigate some
of the most stringent PCI requirements, namely:
Requirement 3: Protect stored cardholder data
Requirement 4: Encrypt transmission of cardholder data across open and/or
public networks
Requirement 6: Develop and maintain secure systems and applications
Requirement 7: Restrict access to cardholder data by business need-to-know
Requirement 9: Restrict physical access to cardholder data