The short answer is yes due to the mandate from Visa and Mastercard for merchants to become PCI compliant. Otherwise you can face penalties and fines that could severely hamper your business. However, if you ask many IT professionals if they think it is beneficial, they don’t believe it is worth the effort and expense to the company. A new report released today indicates that only 33% of the survey respondents believe that the benefit to a company with a merchant account, from becoming PCI compliant, is worth the expense involved.
My belief is that beyond the card association mandates it is worth it because you may not know the liabilty you have avoided by becoming compliant. It is kind of like the burglars who look at a house with a dog and just move to the next one because it is easier. Hackers probably move on to easier targets when they encounter resistance. Also, if you ever do get compromised and have to deal with the consequences it is probably one of those things that you will never fail to do again. An ounce of prevention is worth a pound of cure.
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