Asked by Smitty Hendrix on Jul 11, 2024
Verified
Who enforces PCI compliance for merchants who accept credit card payments from customers?
A) The Department of Defense
B) Merchants
C) Credit card companies
D) Cardholders
PCI Compliance
Refers to adherence to the Payment Card Industry Data Security Standard, a set of security standards designed to protect card information during and after financial transactions.
Credit Card Companies
Financial institutions that issue credit cards to consumers, allowing them to borrow funds within a pre-approved limit for purchases or cash advances.
- Identify the critical role of compliance and security measures in conducting electronic transactions.
Verified Answer
MT
Muhammad TouqirJul 14, 2024
Final Answer :
C
Explanation :
Credit card companies (such as Visa, Mastercard, and American Express) enforce PCI compliance for merchants who accept credit card payments from customers. They require merchants to meet certain security standards to ensure the protection of sensitive cardholder data. Failure to comply with PCI standards can result in fines and penalties for the merchant.
Learning Objectives
- Identify the critical role of compliance and security measures in conducting electronic transactions.