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What is PCI Compliance and why is it so important?

PCI stands for Payment Card Industry, and compliance with the industry standards is a requirement for those that accept the major credit cards and for software providers who have applications which involve the transmission and/or storage of credit card information.

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1. Is my information secure?
2. Is my credit card and checking account information safe when I pay online?
3. What is PCI Compliance and why is it so important?