Sysnet Global Solutions has released a new report which claims acquirers are expecting merchants to perform PCI compliance rates of 70 per cent or above.
In an annual report, the cybersecurity and compliance solution developer surveyed 30 global acquirers and found they expected their four-merchant client-base to have this high level of PCI compliance. All of the respondents indicated that compliance levels at 50 per cent or less was just not acceptable.
However, in stark contrast to this expectation, only 11 per cent of the respondents had a compliance rate over 70 per cent.
Acquirers did show a wiliness to support compliance with eight in ten wanting to do more to drive awareness in compliance matters with their client-base. This support will likely mean educating the market with 75 per cent of the survey respondents believing their merchant customers did not even understand the need for compliance.
The annual report also found that 72 per cent of its participants want to move away from obtaining income through PCI non-compliance fees – this figure is a 20 per cent increase on last year’s.
Around 60 per cent also believed that by adding merchants to a managed compliance service it is a viable alternative to charging for non-compliance.
Sysnet aims to help with PCI compliance by offerings a proactive data security service. Its solution manages PCI compliance and security measures on the behalf of a merchant.
Gabriel Moynagh, CEO of Sysnet, commented: “By incorporating a managed service into your PCI compliance offering, providers will see higher compliance rates among their merchants. Sysnet can support this process by providing a day-to-day solution which actively manages merchants through the compliance and security process. We act as an extension of the internal team to allow a frictionless process from start to finish.”
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