No thanks, stay here.  

  We notice you are visiting from a U.S. Internet provider. Switch to our U.S. website.

Industry News

More than one-quarter of merchants retain payment processing data, survey says

By Pivotal Payments

08/10/2009 - Although discouraged by the Payment Card Industry Data Security Standard (PCI DSS) and card brands alike, the practice of storing cardholder information for purposes other than payment processing is not explicitly banned, and many retailers continue to disregard the security risk and do so anyway.

In a survey of its readers - the caveat being that the sample size was self-selecting and the survey was unmonitored - StorefrontBacktalk.com reported that 28 percent of respondents "currently use payment card data for anything other than payment processing, such as for CRM or other customer identification purposes."

An additional 14 percent of respondents said they do not currently do so but have in the past, while 48 percent said that they do not do so and never have.

Based on some of the write-in responses, the website concluded that many retailers take measures to encrypt the cardholder information they retain, with strategies such as tokenization.

Although this practice can be valuable for customer loyalty and relationship management purposes, it is risky, and increases the vulnerability of a business to a high-impact security breach. ADNFCR-2514-ID-19400754-ADNFCR

Related News - Credit Card Processing

NRF announces 22 months of growth for retailers

17/05/2012

The National Retail Federation (NRF) recently announced that despite slowed consumer spending in April, retailers have now experienced 22 consecutive months of sales growth.

Full Article

Canadian Tire reports profit increase

11/05/2012

Canadian Tire, one of the country's largest retailers, recently reported strong gains in revenue and same-store sales for the first quarter, according to Reuters.

Full Article

Mother's Day gifts expected to drive consumer spending

07/05/2012

According to the Bank of Montreal's (BMO) 2012 Mother's Day Survey, 73 percent of consumers plan on buying gifts for their mother's this year, driving sales at retailers' and restaurants' point-of-sale terminals.

Full Article

Tips for businesses to encourage payment processing

07/05/2012

Return policies are actually quite problematic for merchants, especially those selling products and services online, according to Internet Retailer.

Full Article