Payment Card Security: What It Is & Why It Matters
Payment card security standards set out how card data must be protected whenever payments are taken, to reduce fraud and data breaches.
In this explainer
- Explain what payment card security standards are
- Describe, generally, what they require
- Show why card security matters when a collector takes payments
- List questions to ask a provider about card handling
- Describe how Merion handles payments safely
6 min
What it is
Payment card security standards are industry rules that govern how card data must be handled when a business accepts card payments. The best-known is the Payment Card Industry Data Security Standard (PCI DSS), maintained by the global card industry. The aim is to protect cardholder data and reduce the risk of fraud and breaches.
This page is a general explainer. The standard's detailed requirements and the way they apply depend on how a business takes payments; refer to the official PCI standard for specifics.
Key requirements
At a general level, payment card security calls for protecting cardholder data, restricting who can access it, securing the systems that process it, and avoiding the storage of sensitive card data where it is not needed. Many businesses reduce their exposure by using compliant payment providers so that they handle as little raw card data as possible.
The simplest principle: do not collect or keep card data you do not need, and protect whatever you do handle.
Why it matters for debt recovery
Collection often involves taking payments, frequently by card. If card data is handled carelessly, the result can be fraud, breaches, and serious harm to customers — and reputational fallout for the creditor. A partner that handles payments through secure, compliant channels protects customers and reduces everyone's exposure.
For a creditor, knowing that payments on your behalf are taken securely is a basic but important assurance.
What to ask a provider
Ask: how do you take card payments, and what protects cardholder data? Do you store card data, and if so why and how is it secured? Do you use compliant payment providers to minimise your handling of raw card data? How do you train staff to avoid mishandling card details?
How Merion approaches it
Merion takes payments through secure channels, minimises the card data it handles, and protects whatever it does handle. We aim to make paying both easy and safe for customers. Read more about paying safely in the Trust Centre. For the detailed payment card security requirements, refer to the official PCI standard.
This page is general information only and is not legal advice.
Key takeaways
- Payment card security standards set out how card data must be protected when taking payments
- PCI DSS is the best-known standard; the aim is to reduce fraud and breaches
- Secure, compliant payment channels protect customers and reduce everyone's exposure
- Refer to the official PCI standard for detailed requirements
Frequently asked questions
What is PCI DSS?
It is the Payment Card Industry Data Security Standard, a set of industry rules for protecting cardholder data when accepting card payments. For its detailed requirements, refer to the official PCI standard.
Why does card security matter in collection?
Because collection often involves taking card payments, and careless handling can lead to fraud and breaches that harm customers and the creditor. Secure channels reduce that risk.
How does Merion take payments?
Merion takes payments through secure channels, minimises the card data it handles, and protects whatever it does handle. For the detailed standard, refer to the official PCI documentation.
Security and compliance you can verify
Merion handles every account on the facts, within the rules, and with data protected by design. Ask us anything.