Abstract
Safeguarding customer data is a necessary component of good business practice,
yet the numbers of data breached accounts are at an all time high. Data
security has not been given front line priority, and as a consequence an
environment of mistrust of the card eco-system has developed among consumers,
merchants, acquirers, and issuing banks. To stem this tide, the payment
networks have responded with a renewed emphasis, harsher penalties, and more
specific deadlines for Payment Card Industry Data Security Standards (PCI DDS)
compliance. Merchants are spending untold amounts to come into compliance, and
many are confused as to the value of PCI compliance above and beyond fine
avoidance. This report explores the challenges and issues presented by PCI
compliance from the merchant perspective-including the five biggest compliance
problems causing data breaches for merchants-extracting from qualitative
executive interviews conducted with the PCI council, payment networks, PCI
vendors, Qualified Security Assessors (QSAs), and merchants themselves.
Primary Questions
- What is the real value of PCI compliance, aside from avoiding fines?
- What role does state legislation have in PCI compliance?
- What is the nature of merchant confusion with the PCI compliance process,
and who is responsible for allaying this confusion?
- How can merchants be assured of “safe harbor” from lawsuits
based on their compliance?
- What are the top five security weaknesses facing merchants becoming
compliant?
- Are there any innovative approaches to help merchants deal with sensitive
data storage?
Audience:
Merchants, processors, QSAs, ASVs, service providers, vendors, financial
institutions (FIs)- issuers and acquirers, and payment networks
Companies/Organizations Mentioned in Report
- American Online
- American Express
- CardSystems
- Chase Paymentech
- Citigroup
- Dai Nippon Printing Company
- Data Processors International
- Electronic Payment Exchange
- Fidelity National Information Services
- KDDI
- MasterCard
- National Retail Federation
- Shift4
- Symantec
- TD Ameritrade
- TJX Companies
- TrustWave
- UPS
- US Department of Veteran Affairs
- Visa
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