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Digital Identity, Security & Online Fraud

Acquirers expect merchants to perform over 70 percent PCI compliance rate

Wednesday 1 May 2019 | 01:20 PM CET

A Sysnet report has revealed that acquirers expect their level 4 merchant client-base to be performing at PCI compliance rates of 70% or above.

Sysnet has surveyed 30 global acquirers and none of those surveyed indicated 50% of or less for PCI compliance rate as acceptable. In sharp contrast to this expectation, only 11% of respondents currently have a compliance rate of greater than 70%.

Acquirers also believe they have more responsibility and a duty of care to their merchants with eight in ten wanting to do more to drive awareness of compliance matters within their client-base. This is particularly pertinent when it comes to educating SMBs, with three quarters (75%) of respondents believing that their merchant customers do not understand the need for compliance.

The report further shows that 72% of those surveyed want to move away from obtaining income through PCI non-compliance fees, an increase of 20% compared with 2018’s figure. Almost 60% believe that adding merchants to a managed compliance service is a viable alternative to charging for non-compliance.

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