Low Merchant PCI Compliance Rates Blamed On Dated Technology PCI vendor calls for acquirer/ISO PCI program technology updates to meet merchant needs
SALT LAKE CITY, Feb. 13, 2013 /PRNewswire/ -- SecurityMetrics, a leader in payment data security and compliance, today revealed many merchants may not be compliant with the Payment Card Industry (PCI) Data Security Standard (DSS) because they lack the required liability reducing technology provided by their merchant processor. According to the company's annual Payment Card Threat Report, two-thirds of merchants aren't compliant with the PCI DSS because they store unencrypted credit card data and lack sufficient technology to eliminate sensitive information.
In addition, SecurityMetrics has revealed a growing trend that over 80% of merchants prefer their business to be covered by a breach protection program that includes prevention technology and financial stability tools in the event of a breach. However, this type of breach protection may not be readily available through many merchant processors.
SecurityMetrics recommends PCI technology modernization as a solution to the compliance crisis. Recently developed technologies, including data discovery, threat monitoring, and threat prevention tools are important in successfully achieving PCI compliance. In addition, updated management and compliance tracking tools enable easier program reporting, communication, and management for acquirer and ISO PCI compliance administrators.
"Dated technology is incapable of assisting its owner to meet today's current payment security objectives," said SecurityMetrics CEO, Brad Caldwell. "If an acquirer or ISO is stuck in a program that doesn't implement cutting edge technology, it's imperative to remodel the program to include updated technologies that increase portfolio value and decrease risk."
About SecurityMetrics (www.securitymetrics.com)
SecurityMetrics assists in protecting electronic commerce and payments leaders, global acquirers, and their retail customers from security breaches and data theft. The company is a leading provider and innovator in merchant data security and compliance, and as an Approved Scanning Vendor and Qualified Security Assessor, has helped over 1 million organizations manage PCI DSS compliance and/or secure their network infrastructure, data communication, and other information assets. Founded in October 2000, SecurityMetrics is a privately held company headquartered in Orem, Utah, USA.