The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle branded credit cards from the major card schemes. It was introduced to create a level of protection for card issuers by ensuring that merchants meet minimum levels of security when they store, process, and transmit cardholder data and ultimately reduce fraud.

Merchants that wish to accept payments need to be PCI compliant. Without PCI compliance, the merchant not only risks destroying customer trust in the case of a data breach, but they risk fines and potentially being stopped from being able to accept payments.

Payment processors like Stripe, Adyen, Braintree, and so on, help offload PCI compliance by providing PCI compliant infrastructure available through simple APIs. 

Bjorn Ovick, Head of Fintech at Skyflow, formerly of Wells Fargo, Visa, Samsung, and American Express, holds over 20 patents related to payment applications. He joins the show to share his background, thoughts on the evolution of technology in this space, break down PCI DSS, payment processors, and how Skyflow helps not only offload PCI compliance but gives businesses flexibility to work with multiple payment processors.

Topics:

• Can you share a bit about your background and how did you end up working in the financial industry?

Resources:

• Network Tokenization: Everything You Need to Know