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Industry News

Study: PCI compliance a no-brainer among Level Four merchants

By Alexander Galasso

10/01/2012 - A recent survey by research firm Gartner found nearly one-fifth of retailers and credit card processing services are not compliant with Payment Card Industry Data Security Standards. While this has proven a headache to many in the industry, merchants are beginning to note the benefits of PCI standards.

According to a report released this week by ControlScan and the Merchant Acquirer's Committee, 94 percent of acquirers have a PCI program in place for Level 4 merchants, and more than half - 57 percent - claim their merchants value such programs. More than two-thirds of respondents also agree that PCI compliance reduces the threat of data breaches at small firms.

"For the first time, we are benchmarking the experiences of acquirers in helping small merchants comply with the PCI DSS," said Joan Herbig, CEO of ControlScan. "While recent research has broached this topic, it has been from the standpoint of larger merchants, Level 1 and 2, and has had little applicability to the challenges faced by smaller Level 4 merchants."

However, analysts also expect PCI compliance to become a more pressing issue as data security concerns mount. The digitization of content, specifically customers' financial data, demands new security standards such as tokenization and data encryption.

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