A credit card vault is a tool or tool that securely stores customer credit card numbers. In most cases where you use a credit card vault when you accept a card number from a customer, sensitive data does not enter your device, computer, or network.
Storing credit card data online is most advantageous for businesses that deal with recurring bills or have active account users who make frequent purchases. But if you're not part of this camp, you have to ask yourself why you should store credit card data on your servers.
The industry practice is to eliminate the middle six digits, but the standards for each major card brand range slightly. Organizations seeking flexibility in this area should review the individual requirements for each card brand.
To store credit card information on paper, you must cross it out with a dark pen to make the security code unreadable after completing the transaction and before storing a paper authorization form.
PCI-DSS requirements state that cardholder data may only be retained for a legitimate legal, regulatory, or business reason. In other words, if you don't need cardholder data, you shouldn't store it.
Requirement 3.1 of the Payment Card Industry Data Security Standard (DSS) requires organizations to retain and follow data retention and disposal procedures.
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