Payment Card Industry Compliance - Assignment Example

 The lack of allowance for card service providers to use emerging next-generation anti-malware security is the factor that went wrong with PCI compliance. PCI compliance also does not assess a card Service Provider Company’s capacity to counter threats. The lack of a means to encrypt card data while in use epitomizes the things that went wrong with PCI compliance A good approach to making up for the shortcomings of PCI compliance is to require card service providers to encrypt cardholders’ data securing it in all the points of a financial transaction (Virtue, 2009).

This approach has not been adopted because it is expensive. In addition, many have not adopted the approach because they still blame the implementation of PCI and not the flaws imminent in its standards (Chuvakin & Williams, 2012). The industry should invest funds or share the cost fairly with customers to ensure integrity in the security of cardholders’ data. The industry has to ensure that PCI’s standards are revised, implemented expertly, and assessed with the utmost integrity.