What is the primary goal of the PCI Security Standards Council?

The primary goal of the PCI Security Standards Council is to develop and enhance global payment card security standards. This organization was established to ensure that all entities involved in payment card processing maintain a secure environment for protecting cardholder data. By creating standards such as the PCI DSS (Payment Card Industry Data Security Standard), the Council aims to reduce risks associated with payment card transactions, thereby enhancing the overall security of the payment card ecosystem. This effort is crucial in building trust among consumers, merchants, and financial institutions regarding the safety of digital transactions.

As for the other choices, they suggest broader regulatory or oversight functions that fall outside the specific purpose of the Council, which is focused exclusively on payment card security standards rather than regulating all financial transactions or overseeing banking practices. While these aspects may relate to the financial sector, they are not the primary focus of the PCI Security Standards Council. Similarly, creating laws is outside the Council's remit, as its role is not to legislate but to establish best practices and standards for security.