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04/03/2010 -
An increasing number of retailers are prioritizing security concerns - not just defensively but also proactively - with the understanding that consumers are more vigilant than ever about the safety of their cardholder data. This is among the findings of a survey of major retailers released this week, conducted by the global trade association Retail Industry Leaders Association in partnership with Retail Systems Research.
The survey found that 47 percent of respondents are proactively addressing security and privacy issues.
It also found that, of retailers identified as best in class - those that elevate security challenges to the policy level, define and communicate the company's commitment to security, define business-level accountability, and develop and practice repeatable best practice-based security processes - 87 percent acknowledge that several recent highly publicized breaches have made consumers more aware than ever of the importance of payment processing security.
"Retailers place the highest value on their customer relationships and are committed to safeguarding the personally identifiable information of shoppers," said Casey Chroust, executive vice president for retail operations. "Retailers have gone to great lengths to incorporate privacy as a strategic component of their daily operations and remain vigilant in protecting customer data while providing the value customers want."
Businesses in all sectors, not just retail, are also encouraged to take proactive measures to assure consumers of their commitment to security; a recent survey from Mintel Comperemedia confirmed that the number of people concerned about the safety of their payment processing information - 46 percent - is higher than in pre-recession years.
