Business

1 in 3 firms serious about payment security compliance

As digital payments grow across the world, only one in three firms have implemented full payment security compliance to secure customers’ data, a new report by Verizon said.

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Companies that maintain full compliance with the Payment Card Industry Data Security Standard (PCI DSS) decreased for the second year in a row to 36.7 pc worldwide, said Verizon’s 2019 Payment Security Report. PCI DSS helps businesses that offer card payment facilities protect their payment systems from breaches and theft of cardholder data. “After witnessing a gradual increase in compliance from 2010 to 2016, we are now seeing a downward trend and rising geographical differences,” said R Simonetti, Global MD for Security Consulting at Verizon.

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