ControlScan and Merchant Warehouse Report New Findings on SMB Merchants' Payment Security Awareness
ATLANTA, Nov. 12, 2013 - ControlScan and Merchant Warehouse have jointly released the results of their fifth annual survey of Level 4 merchants' awareness, sentiment and progress toward securing cardholder data in compliance with payment card industry (PCI) standards.
The Level 4 merchant group represents 98% of all U.S. retailers, is primarily comprised of small to mid-sized businesses (SMBs), and numbers in the millions. The newly-released research report "Payment Security and the SMB: The Fifth Annual Survey of Level 4 Merchant PCI Compliance Trends" reveals that as a group these merchants are making progress, yet key concerns remain.
"Nearly three-quarters of survey respondents believe complying with PCI standards improves the security of their business, and that's encouraging," said Joan Herbig, CEO of ControlScan. "As a whole, though, these merchants are showing a lack of corresponding activity for prevention and detection. In addition, they are not prepared should a data breach occur."
A total of 615 Level 4 merchants responded to the 2013 survey, providing many critical insights for independent sales organizations (ISOs), acquirers and other merchant service providers (MSPs), including:
- 43% are personally responsible for information security in their organization, while 35% say no one is assigned the responsibility;
- 51% do not require their third-party service providers to achieve and maintain PCI compliance; and
- Only 36% have developed an incident response plan (IRP) for their business.
"SMB merchants have a distinct need when it comes to payment security and compliance," said Henry Helgeson, CEO, Merchant Warehouse. "Very few have the time or resources to think through what it takes to better their security posture, and most don't even realize the significant risk their business faces. It's up to us as their MSP to give them a cost-effective, simplified way to succeed in this regard."
To access a copy of the survey research report, which includes an in-depth discussion of the implications Level 4 merchants' responses have for their own breach risk as well as the risk the MSPs serving them face, please click on the following link: https://www.controlscan.com/payment-security-and-the-smb-white-paper/
In addition, ControlScan and Merchant Warehouse are hosting a joint webinar on November 20, 2013 to present the study's findings. Click here for more information and to register: https://www2.gotomeeting.com/register/397376026.
Headquartered in Atlanta, ControlScan delivers unified security and compliance solutions that help small and mid-sized businesses secure sensitive data and comply with information security and privacy standards. We support business owners, franchisees and merchant service providers with technology, services and expertise for PCI DSS, HIPAA and EI3PA compliance; vulnerability detection and risk mitigation; POS, e-commerce and mobile security; and more. For more information, please visit ControlScan.com or call 1-800-825-3301.
About Merchant Warehouse
Merchant Warehouse is a leading provider of payment technologies and merchant services. The company's solutions enable merchants to more effectively connect and engage with their customers regardless of how, where or when they choose to shop. Merchant Warehouse's flagship technology solution, the Genius™ Customer Engagement Platform™, supports both traditional and new payment types, including mobile commerce, from a single countertop acceptance device. For more information about Merchant Warehouse, please visit merchantwarehouse.com or follow the company on Twitter at @MWarehouse