The new PCI DSS Standard, version 4.0, contains all the steps, best practices, and explanations required for full compliance. In fact, even an organization that does not process cardholder data could follow the PCI Standard to implement a robust cybersecurity program for any of its important data.

As we continue our review of the 12 Requirements of PCI DSS version 4.0, one has to stop and consider, is it possible to have a favorite section of a standard? After all, most guidance documents, as well as regulations are seen as tedious distractions from the importance of getting the job done. However, depending on a person’s position and function in an organization, it is possible to “geek out” on some of the information in these official papers.

In Part 1 of this series, we reviewed the first four sections of the new PCI standards. As we continue our examination of PCI DSS version 4.0, we will consider what organizations will need to do in order to successfully transition and satisfy this update.

In March 2022, PCI DSS launched a 4.0 version, which sets the operational and security standards for users. This new version is the replacement for the 3.2.1 variant. The authorities have upgraded the version to enhance security measures and help individuals and businesses handle growing security threats seamlessly. Financial companies have been sending feedback for the inefficient payment systems, due to which the PCI DSS launched a new security version PCI-DSS v4.0.

The Payment Card Industry Security Standards Council has released its first update to their Data Security Standard (PCI DSS) since 2018. The new standard, version 4.0, is set to generally go into effect by 2024, but there are suggested updates that are not going to be required until a year after that. This, of course, creates a couple of problems for those who want to phase in the new standard.

PCI DSS 4.0 couldn’t have come at a more opportune time, particularly as the global pandemic forces more individuals into online purchasing—from shopping and entertainment to healthcare and hospitality. With PCI 4.0 compliance mandated by 2025, it is critical to understand now what it will mean for client-side security, so businesses can begin the implementation process.

Whether you’re a startup, an e-commerce company, or a large corporation, as long as you handle credit card transactions, you need to be aware of and comply with the Payment Card Industry Data Security Standard (PCI DSS). As online commerce and online payment technology continue to grow, they need to be accompanied by new rules and regulations to make sure that both the business and the customers are safe and secure.

In our new tech tales series, we discuss how Synopsys customers use our products and services to uncover security risks in their organization. Synopsys customers span every industry—from small to large enterprises across financial services, automotive, public sector, medical and healthcare, and much more. One thing they all have in common is building trust into their software.

It’s not often we can say this, but 2022 is shaping up to be an exciting time in information governance, especially for those interested in compliance and compliance frameworks. We started the year in eager anticipation of the new version of the international standard for information security management systems, ISO 27001:2022, soon to be followed by version 4.0 of the PCI DSS standard.