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Percentage of Merchants Who Met PCI Data Security Standards More Than Doubles in Just Eight Months
According to Visa, the percentage of large merchants that met PCI Data Security Standard (PCI DSS) compliance more than doubled over the last eight months. This spike in compliant companies prompted the Payment Card Industry Security Vendor Alliance (PCI SVA), a member organization that offers institutions and card processors products and services to achieve PCI DSS compliance, to create the PCI Knowledge Base.
“PCI compliance is a complex and often daunting task,” said David Taylor, Research Director of the PCI Alliance. “We wanted to find out how so many companies became compliant so quickly and share that information with other merchants affected by PCI DSS.”
“The good news out of this is that the leading merchants who are members of the PCI Knowledge Base have obviously taken seriously the large breaches of networks via wireless connections,” said David King, chairman and CEO of AirTight. “The results of the PCI Knowledge Base’s research indicate there is definitely an acceleration of PCI compliance amongst merchants and banks. The troubling news, however, is that the clear majority of the participants in the research program indicate merchants are focused on achieving ’Paper Compliance‘ — or just getting by to avoid fines.”
“What differentiates the leading merchants in the Knowledge Base,” continued King, “is that they are focused on ‘operationalizing’ their compliance – by integrating PCI with other compliance programs, and building compliance into their corporate DNA. There is a wide chasm between compliance and security as demonstrated by a recent breach of a large merchant who was, according to news reports, compliant. The work done by the Knowledge Base will be a valuable resource in continuing to educate the marketplace on the risks involved in just getting by with ‘good enough’ compliance measures.”
Some key findings in the PCI Knowledge Base Report include:
About The PCI Knowledge Base
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