Summary
Have you ever heard the term “PCI Compliance” and wondered what it’s all about? Should your business be PCI compliant? How serious are the penalties for non-compliance? Mike McGirr, Reach’s VP, Compliance & Privacy Officer, has the answers all to these questions & more. Join host, Leo Tucker, and learn exactly why anyone who touches customer payment information should be up to date on all things PCI. This includes your business, and any other third-party payment processors you work with.
Transcript
Leo Tucker: Welcome to Business Over Borders. I'm your host, Leo Tucker. And I'm joined today by Mike McGirr, our VP of Compliance. Welcome, Mike. We're here to talk about, something a little exciting, something a little terrifying, PCI compliance.
Now I learned today that PCI compliance, what it means is the payment card industry compliance. I'd always heard of it as PCI. What is that in broad terms?
Mike McGirr: Basically, to really secure cardholder data and to protect credit cards from being breached and used on the dark web or being sold on the dark web and being used fraudulently.
Leo Tucker: Okay. So, I mean, I remember back a number of years ago, there were these breaches all the time where so and so would have, you know, all the credit cards are bought and sold on the Internet and everything, and it was always breach this, breach that. So when that happened, I'm assuming there was some sort of PCI compliance, noncompliance rather. Is that kind of what's going on?
Mike McGi...