New PCI DSS Version to Take Effect on October 31

On October 31, 2016, PCI DSS v3.1 will be retired and the requirements of PCI DSS v3.2, released in April, will take effect as the new payment data security “best practices” applicable to the merchants, financial institutions, and vendors accepting major credit cards, including American Express, MasterCard, and Visa. The amendments are designed to improve payment card security and prevent payment data breaches.

 

To help ease the transition, the PCI Security Standards Council will allow the industry participants a grace period until January 31, 2018 to implement these amendments. Beginning on February 1, 2018, the amendments will graduate from “best practices” into full-fledged requirements. The changes encompass clarification of the existing security requirements, additional guidance on several topics, and evolving requirements for addressing emerging data security threats.

 

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