Outsourcing Payment Security – How outsourcing security technology is changing the face of electronic payment acceptance practices
In recent years, new security applications and legislation have been put in place to protect sensitive card data. And all for good reason. For America’s corporations, the processes and requirements have proved difficult at best, crippling at worst. Merchants have struggled for years with cost-prohibitive payment integration systems, licensing fees and backbreaking requirements for payment processing.
Today, any merchant who accepts credit card payments is required to be compliant with Payment Card Industry Data Security Standards (PCI DSS). The best answer for merchants is to fully outsource payment processing security, an option very few have chosen.
Even with the stringent requirements, security remains a major concern — especially in light of the troubled economy. If payment data is compromised, the financial and legal implications are enormous. Merchants risk regulatory repercussions, damage to reputation and financial penalties. Research shows that three of four consumers will not continue to patronize a compromised merchant, making this both a C-level and an IT concern. Ninety-one percent of respondents in a Forrester study agreed security is a CEO or board-level concern. More than 280 million payment card records were breached in 2008 alone. With the total cost of a data breach at $202 per record in 2008, that quickly adds up to a financial nightmare for corporate America.
In this white paper you will learn about:
- Where payment data security vulnerabilities exist
- How outsourced security technology can help merchants address PCI compliance
- A detailed analysis of the benefits of utilizing Software as a Service (SaaS) technologies to secure payment data
- How companies like yours have successfully utilized tokenization technologies to reduce risk and increase ROI on PCI DSS investments
Register to download:
Outsourcing Payment Security
How outsourcing security technology is changing the face of electronic payment acceptance practices.