Few credit cards compliant with new standard

Published on 5 March 2010 by arun singh

Few credit cards compliant with new standardA survey of 100 UK firms has found that only 11 per cent are certified compliant with new credit card standards.

The Payment Card Industry – Data Security Standard is due to come into force in September and is designed to combat fraud. It aims to do this by providing a framework to enable businesses to securely transmit, process and store data.

It comes as a response to increasing concerns about the loss of customer details by organisations.

And In addition to the 89 per cent of businesses who aren’t compliant the survey also found that 35 per cent still don’t fully understand PCI –DSS requirements. Another third said they didn’t expect to be compliant by the September deadline.

Companies supporting the guidelines include American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa.

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