Brokers warned of credit card security shake-up
Brokers must comply with new credit card security standards or risk facing financial penalties in the future, industry experts have warned.
According to independent market research by industry analyst Redshift Research, only 11% of UK companies currently comply with the Payment Card Industry Data Security Standard (PCI DSS), which becomes mandatory in September this year.
The deadline, which will apply to Visa and Mastercard transactions, will initially focus on businesses that process more than six million credit card transactions a year but will filter down to smaller companies in the future.
The standards are the first of their
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