What does PCI DSS stand for?

PCI DSS stands for Payment Card Industry Data Security Standard. This standard was developed to enhance global payment account data security and is applicable to all organizations that accept, process, store, or transmit credit card information. The primary intent of PCI DSS is to protect cardholder data from fraud and breaches by implementing a comprehensive framework that includes technical and operational requirements for organizations.

Options such as "Payment Card Information Data Security Standard" and "Payment Compensation Information Data Security Standard" misrepresent the key term "Industry," which highlights the collaborative efforts of multiple stakeholders in the payment card ecosystem, including card brands and payment processors. Similarly, "Payment Card Integrity Data Security Standard" does not accurately reflect the focus and formally recognized terminology used across the payment industry. The correct understanding of PCI DSS is critical for compliance and for maintaining the security of payment card transactions.