PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Latest PCI Study from ControlScan Gets 'Acquirer's Perspective'

Mercator Advisory Group by Mercator Advisory Group
January 9, 2012
in Analysts Coverage
0
ISO 20022, SWIFT API Plugins and Process Optimization, Amazon B2B, banking

ISO 20022 Translators, SWIFT gpi Plugins and Process Optimization

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

In conjunction with the Merchant Acquiring Committee (MAC), PCI security vendor ControlScan has released a benchmarking study that reveals the perspective of merchant acquirers on their efforts to bring their Level 4 merchant populations into compliance. Whereas ControlScan has for the last three years published results of their research into merchant behavior and attitudes regarding PCI compliance – the latest report of which was released in October – this is the first time the company has polled acquirers and merchant service providers in their survey. The report, “Benchmarking Level y PCI Compliance: The Acquirer’s Perspective,” is available in the Payments Journal library.

From the press release:

Despite the payments industry’s frustration with a perceived lack of progress with Payment Card Industry (PCI) compliance adoption among small merchants, a recent survey finds a growing number of acquirers see value in having a PCI program to reduce data breaches and overall portfolio risk with success coming to those who actively engage their merchants in PCI education and support.

This conclusion is just one of the major findings from a survey, Benchmarking Level 4 Merchant PCI Compliance – The Acquirer’s Perspective, of more than 146 banks, processors and Independent Sales Organizations (ISOs) serving Level 4 merchants conducted by ControlScan (controlscan.com) and Merchant Acquirer’s Committee (MAC) (macmember.org/). Ninety-four percent of acquirers have a PCI program in place for their Level 4 merchants with 57 percent saying their merchants see value in their PCI program. More importantly, 70 percent of acquirer respondents believe their PCI program reduces small merchant data breaches.

“Over the last three years, ControlScan has extensively studied the viewpoints of small merchants regarding PCI compliance,” said Joan Herbig, CEO of ControlScan. “For the first time, we are benchmarking the experiences of acquirers in helping small merchants comply with the PCI DSS. 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. This study shines a light specifically on this segment.”

According to the survey, 61 percent of PCI programs have been in place for two years or less, so the duration of programs is still maturing based on the fact that the PCI DSS was initially developed and released seven years ago. Overall, one-third of respondents said at least one of their merchants experienced a data breach during the last 12 months. Study responses show, however, that as the Level 4 merchant compliance rate increases, the occurrence of a data breach decreases.

“The benchmarking study suggests that acquirers have a positive outlook on PCI compliance, a stance MAC wholeheartedly supports in its communications and education curriculum for members,” said Susan Matt, CFO of MAC and CEO and founder of ThoughtKey, Inc. “The study also links certain key attributes of acquirers with high PCI compliance rates – a correlation we simply speculated earlier, but can now stress as best practices to the industry.”

Click here for more:

Tags: Merchant Acquiring
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    On-Demand Webinar: Solving the Digital Onboarding Challenge​ – Increasing Conversions without Increasing Risk

    On-Demand Webinar: Solving the Digital Onboarding Challenge​ – Increasing Conversions without Increasing Risk

    February 8, 2023
    legacy infrastructure

    How Modernizing IT Can Help Banks Compete With Fintechs

    February 7, 2023
    Buy Now Pay Later BNPL, B2B BNPL

    B2B BNPL Offers a High-Potential New Chapter in Payments

    February 6, 2023
    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix