That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
Eight data security companies have formed The Payment Card Industry Security Vendor Alliance to assist merchants, banks and vendors of point-of-sale technology in understanding the Payment Card Industry Data Security Standard.
Eight data security companies have formed The Payment Card Industry Security Vendor Alliance to assist merchants, banks and vendors of point-of-sale technology in understanding the security standard in the payments industry. The Payment Card Industry Data Security Standard-known generally as the PCI Standard-regulates transmission and storage of credit card data. The standard’s goal is to protect data from thieves.
“Even with all the press on data security breaches and the corporate and personal costs that accrue from them, there is still only limited awareness of the PCI data security standards,” says Jon Oltsik, senior analyst with consultants and analysts Enterprise Strategy Group. “These standards impose compliance rules that enterprises handling credit or debit card data must resolve from business and technology perspectives. The PCI SVA is a valuable component in addressing this issue holistically."
Founding members of the group are all data security vendors: ConfigureSoft Inc., Cyber-Ark Inc., Modulo Security, Proginet Inc., Protegrity USA Inc., Reflex Security, SafeNet Inc. and Verisign.
To demonstrate the business value of solutions to comply with the standards, and their value in meeting other regulatory privacy and data security directives, the group plans to create case studies, seminars, return-on-investment analyses, and white papers showing how organizations may achieve compliance with the standards efficiently and on-budget.
The group has created a web site, http://www.pcialliance.org, for more information.