The acronym PCI DSS stands for Payment Card Industry Data Security Standard. It is a set of security guidelines created to protect cardholders’ sensitive payment information during and after a financial transaction. Compliance with PCI DSS is mandatory for all businesses that handle credit card data, ensuring a standardized level of security. The standards cover various aspects, including data encryption, access control, and regular security assessments. By adhering to PCI DSS, organizations can safeguard against data breaches, enhance customer trust, and maintain their reputation in the financial sector.