Retailers who are slow to take up new technology are endangering UK credit card customers’ security, a new survey has warned.
The Logic Group and the Retail Bulletin say in a joint report that new payment card industry (PCI) data security standards have yet to be implemented by nearly three quarters of retailers.
The new standards, mandated by Visa and MasterCard and supported by American Express, Diners Club and other card issuers, are intended to protect credit card users from fraud by requiring retailers to be more careful with their details.
Responsibility has also been laid at the door of the financial authorities, as a whopping 57 per cent of merchants questioned said that they had been offered no support or guidance on PCI.
Mark McMurtrie, Logic Group marketing director, said: “In some ways, it is hardly surprising that merchants have done so little to achieve PCI compliance.
“Few merchants will have the necessary resource or expertise to achieve compliance and maintain it without expert help
“Our aim is to help merchants minimise the costs and time involved in meeting this mandatory regulation.”
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