80 percent of global merchants fail card data security tests

Around 80 percent of global merchants including retailers, financial institutions and hospitality firms have failed interim tests that show they are not in compliance with card data security standards,reports Reuters.

A new Verizon report released this week assessed more than 5,000 merchants in 30 countries, finding only 20 percent were compliant with the Payment Card Industry Data Security Standard (PCI DSS), a framework set by card issuers such as MasterCard and Visa. Verizon said that most companies are in the habit of upgrading their security software and hardware as they approach an annual compliance check, but don’t remain vigilant throughout the year.

80 percent of global merchants fail card data security tests