What is PCI compliance, and why do I need it?
PCI compliance for business is all about your processing of debit / credit card payments, and ensuring your business is handling and storing the data according to certain regulations. In the most basic sense, if your business accepts card payments in any fashion, you must become PCI compliant.
However, it’s also true that PCI compliance is not a legal requirement. Instead, fines for data breaches would be given to the banks by the providers who make up the Security Standards Council: American Express, Discover Financial Services, JCB International, MasterCard, and Visa Inc.
(Source FSB.org.uk and for more info click here)