It’s no secret that cardholder information can be highly lucrative and is frequently targeted by cybercriminals, challenging businesses worldwide to prioritize their security and prevent severe financial and reputational damage.

At the heart of these efforts is the Payment Card Industry Data Security Standard (PCI DSS), a comprehensive framework designed to enhance the security of payment card data.

For hoteliers in particular, a key instrument in measuring PCI DSS compliance is the completion of a Self-Assessment Questionnaire (SAQ).

But what exactly is an SAQ? And why should it matter to you? In this week’s feature of the VENZA Echo, we’ll take a look at these foundational questions.

Let’s get started.

What is an SAQ?

The SAQ is a self-evaluation tool used by businesses to validate and report their adherence to the data security measures mandated by PCI DSS. To put it simply, it’s a set of baseline questions that an organisation must answer to show they are actively following security standards.

For hoteliers, completing the SAQ is not as simple as checking a box—because of the quantity of data stored by hotels, each location within a portfolio must individually complete the assessment. Depending on how the property processes transactions and stores its data, it will need to select from one of nine applicable SAQs, which vary in length from 31 to 251 questions.

To fulfil PCI DSS requirements, the SAQ must be prepared annually and reevaluated when significant changes in the payment card environment occur.

Why is it important?

Penalty & Fines

The primary and most often cited driver of SAQ completion is maintaining PCI DSS compliance. The SAQ (or, for larger organisations, a third-party audit) results in documentation that is submitted to credit card companies to demonstrate compliance.

Failing to comply can be exceptionally costly for businesses, with monthly fines up to $100,000 or more depending on the severity of the infraction and the number of transactions processed. These fines are issued by the individual credit card companies, so depending on how many types of cards your business accepts, you may face multiple different penalties.

Fines are issued to your bank who then passes the cost to you (potentially with added servicing fees).

Failure to pay could lead to losing access to your merchant bank or —even more severe—losing the ability to accept credit card payments altogether.

Customer Trust

In addition to compliance and avoiding fines, participating in the SAQ process is important for maintaining guest trust in your property and brand.

PCI DSS is more than a set of rules, it is a key series of baseline security standards to protect the sensitive data your guests have trusted you with by choosing your hotel.

Completing the SAQ is your organisation’s documented commitment to safeguarding their information.

Risk Mitigation

Perhaps most important of all, working through the SAQ annually allows your teams to identify and address potential security vulnerabilities or lapses in policy, reducing the risk of data breaches and fraud.

Ideally, these measures should be assessed far more often than once a year, however, a detailed evaluation to align with the best practices of data security can only help, not hinder the security posture of your organisation.

***

The SAQ is a fundamental component for PCI DSS compliance, challenging businesses globally to align with a set of standardized data security standards. In hospitality, this can be markedly complex, especially for those managing a diverse portfolio of different brands. But fortunately, VENZA can help.

Through the Everest™ program, VENZA’s Security Team expertly guides hoteliers of all sizes through the SAQ completion process and every aspect of PCI DSS compliance. In partnership with VENZA, your company can tackle regulatory compliance in as little as one month.

***

Take VENZA’s free Phishing Test to assess gaps in your human firewall today!

Training your personnel to recognize and report phishing attempts is essential to protecting your guests and their data. Get started by determining your risk and readiness level using this free tool.

***

Want to stay informed? Subscribe to the free VENZA Echo now. You’ll receive a monthly digest with the highlights of our weekly article series and important product updates and news from VENZA.