Are you interested in becoming PCI compliant? Are you looking to determine the final cost to get PCI compliance? Check out the 9 factors that may affect the cost!
Let’s face it – PCI compliance can be a huge cost for companies, especially for startups and small businesses. However, it is essential to consider the cost of being PCI compliant as it is definitely a better and a cheaper option to be PCI compliant than to avoid this system. Regardless of the type of business you are running, you can’t afford to pay financial fees or penalties related to failure or additional complications and then to submit for PCI compliance or to lose profit or lawsuits that can result in a total collapse.
According to experts and IT professionals, every business has to consider the option of becoming PCI compliance, without worrying about the final cost. If your business or e-commerce website accepts credit or debit card payments, then you are obligated to consider PCI compliance.
We are going to explain the most important factors that affect the PCI compliance host and help you determine the final calculations.
How to Calculate the PCI Compliance Cost – 9 Factors that Affect the Final Cost
The PCI compliance cost may vary from one business to another. Among the most important variables is the number of transactions one business process per year. However, the number of transactions is not the only factors that affect the PCI compliance cost.
- Number of Transactions Processed – This will determine the level of PCI compliance required for your business.
- The Business Type – This can have an effect on other factors that can stimulate the costs to go up or down.
- The Number of Employees – Each employee in your company can present security risk or vulnerability.
- Senior Leadership – The organizational structure is an important factor in risk mitigation and information security.
- Physical Environment – The type, location, and configuration of the off-site or on-site can impact the PCI compliance cost.
- Hardware – The equipment used to process card data must be PCI compliant.
- In-House PCI Knowledge – If your IT team has PCI expertise, you may lower the PCI compliance cost.
- PCI Fees – The noncompliance fees are usually on a monthly basis.
- Qualified Security Assessments – The cost depends on the level of PCI compliance needed.
The PCI compliance cost may vary according to these factors.
— TechNative (@TechNative) 13 de abril de 2017