Businesses Embracing PCI Compliance

According to an official with the Payment Card Industry Security Standards Council (PCI SSC), retailers have been making significant strides toward preventing data breaches, thereby protecting both themselves and their customers. “Anecdotal evidence suggests that we are seeing a huge swing in momentum in the adoption of the PCI standards by all organizations,” says General Manager Bob Russo.

PCI compliance — or at least the concept behind it — is gaining traction with U.S. businesses. A recently-released study of small and mid-sized retailers from the National Retail Federation and First Data Corp. reports that 86% of respondents said they want to protect their customers’ data because credit and debit card security is vital to their business. However, 64% of them believed their systems were not vulnerable to hackers, and 60% were not aware that they could pay a fine for each card that must be cancelled if their business is the source of a breach.

Russo recommends that merchants confirm with their credit card processing service providers that the equipment and services they are providing are PCI compliant. Merchants can find additional information about PCI standards on the PCI SSC website. Guidance specific to small business can be found on an affiliated microsite.

Has your business experienced a data breach? We’d like to hear about your experience and how it has changed the way you do business.