According to one industry expert, independent service organizations (ISOs) need to do more to help clients comply with the standards of the Payment Card Industry.
At a recent seminar, industry analyst Joseph Zahaitis told the crowd that few organizations were informing merchants about what needed to be done to protect data, ISO and Agent reports. He told Northeast Acquirers Association 2012 Winter Seminar and Outing attendees that getting firms more informed about what compliance means is vital for the long-term viability of the sector.
He said just talking about it wasn’t enough and that a study he had performed helped his research firm get a handle on what the situation was.
“We weren’t creating charts but were trying to get a feel for what’s going on in the industry,” he said, according to the source.
The PCI standards were created by industry leaders MasterCard, American Express, Discover Financial, JCB Financial and Visa to help make merchant services more secure for retailers and other businesses. Not protecting credit and debit card information could result in major losses for the firms targeted.Back To Blog