PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

California Consumer Privacy Act and Credit Cards: The Survey Says “Huh?”

By Brian Riley
May 3, 2019
in Analysts Coverage, Credit, Fraud & Security, Security
0
2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
California Consumer Privacy Act and Credit Cards: The Survey Says “Huh?”

California Consumer Privacy Act and Credit Cards: The Survey Says “Huh?”

Digital Journal reports on consumer awareness of the California Consumer Privacy Act (CCPA), which goes into effect in 242 days; the numbers are dismal. Even though CCPA provides data protection standards close to EU’s General Protection Data Regulation, which Mercator Advisory Group covered here, 46% of U.S. employees were unfamiliar with this sweeping regulation.

The protections afforded to Californians, which constitute 10% of the US population, has wide-ranging impacts to many businesses, with a particular focus on payment cards. DJ reports:

  • The survey found that in relation to the new act’s credit card information guidelines, 58 percent of business employees said they had not heard of the privacy requirements which are based on a global set of payment card industry (PCI) guidelines that govern how credit card information is handled.
  • In terms of cybercrime reporting, the poll showed that 12 percent of employees said they were unsure if they should report a cybercriminal stealing sensitive client data while at work. Theft of login credentials was considered the most serious threat to sensitive data, such as with disgruntled employee stealing data and phishing emails coming next.

But the numbers get worse when you look at how well businesses are prepared to comply. Fortune magazine reports that business recognition is just as bad, in an article entitled “Most Companies Aren’t Ready for California’s Tough New Privacy Law”

  • The results show that 86% of respondents have not completed preparations to be compliant with the new California law. Companies will have to create complex tools that will identify the data they collect, organize it, and give consumers easy-to-use technology to delete it.
  • The survey results are based on responses 250 professionals, who are at least partially responsible for privacy matters at companies with 500 or more employees. The questions related to their preparations for California’s new law, which could impose penalties up to $7,500 per infraction for companies that fail to comply.

King & Spalding, a top U.S. law firm summarizes the scope of the law, in a detailed review at JDSupra.

  • The CCPA applies broadly both in terms of who and what is covered: the definition of “personal information” (that is, information that can reasonably be linked to a “consumer” or “household”) is uniquely expansive, and virtually all companies of substantial size who do business in California would be covered. The CCPA applies to all information about a consumer—not just electronic information.
  • Consumers’ new rights include learning what specific information companies have collected about them over the preceding year and why, accessing or requesting the deletion of the information, and opting out of the sale of information.

This is not California Dreaming. Non-compliance to data security standards brings large penalties. Ask Mark Zuckerberg, as Facebook faces fines estimated at between $3 and $5 billion, according to CNN.

Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group

2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: CreditGDPRSecurity

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    bank chatbot

    When It Comes to Chatbots, Banks Are Falling Behind Fintechs

    February 20, 2026
    embedded payments finance

    How Developers Are Driving the Future of Embedded Payments

    February 19, 2026
    gift card strategy

    The Gift Card Shift: From Convenience to Core Shopping Strategy

    February 18, 2026
    Tina Shirley

    From Cross-Border Payments to Community Banks: The Future of Zelle®

    February 17, 2026
    Startups: Fintechs Data Streaming Technology in Banking, corporates Enriched Data vs Faster Payments

    Fighting Fraud in the Era of Faster Payments

    February 13, 2026
    cross-border payments

    Solving for Fraud in Cross-Border Payments Requires Better Counterparty Verification

    February 12, 2026
    agentic commerce

    Demystifying the Agentic Commerce Enigma

    February 11, 2026
    payment gateways

    How Payment Gateways for Businesses Can Help You Offer Your Customers More Options

    February 10, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result