Acquirers’ PCI programs are building momentum, but more work needs to be done [INFOGRAPHIC]
February 3, 2014 – Payment security and compliance service provider ControlScan today announced a newly-released survey report that highlights findings from its third annual survey of merchant acquirers. “Building Momentum: The Third Annual Survey of the Acquirer’s Perspective on Level 4 Merchant PCI Compliance” was produced in partnership with Merchant Acquirers’ Committee (MAC) and reveals important areas in which ISOs, acquirers and other merchant service providers (MSPs) are missing opportunities to help merchants close payment security gaps.
According to the ControlScan/MAC report, just 44 percent of survey respondents’ organizations currently offer risk-reducing tools or services—beyond access to the PCI-required Self Assessment Questionnaire (SAQ) and external vulnerability scanning—to help merchants meet specific payment card industry requirements. Of the MSPs currently offering additional value-added merchant solutions, tokenization and point-to-point encryption are the most common.
“Today’s threat environment challenges merchant service providers to take a fresh look at their PCI programs,” said Heather Foster, vice president of marketing, ControlScan. “Small merchants in particular need guidance in terms of readily-available technologies and services that reduce PCI scope and support a strong security posture.”
Other key findings from this year’s ControlScan/MAC survey show that MSPs are building momentum in small-merchant PCI compliance validation, but that more work needs to be done. For example, more acquirer survey respondents are reporting portfolio compliance rates above 40 percent; however, there has also been a 23 percent increase in the number of merchant breach incidents since 2012.
“The latest acquirer survey reveals great opportunities for MSPs, including the ability to offer merchants risk-reducing tools as well as justification for being more aggressive in charging non-compliance fees,” said Susan Matt, CEO of payments consulting firm ThoughtKey, Inc., and longtime MAC committee member. “MSPs who seize these opportunities will achieve greater risk reduction overall, gain revenue and ensure merchant retention.”
To access the free survey report, go to https://www.controlscan.com/whitepapers/acquirer-study-2014.php.
