Explaining the PCI DSS Evolution & Transition Phase

The boon of online business and credit card transactions in the early 90s and 2000s resulted in an increasing trend of online payment fraud. Since then, securing business and online card transactions has been a growing concern for all business and payment card companies. The increasing cases of high-profile data breaches and losses from online fraud emphasized the need for urgent measures and a standardized approach to address the issue. To tackle the growing concerns of payment card fraud and cybercrime, industry giants such as Visa, MasterCard, and American Express together created a global…