Blogs| Contact Us| Log In| Search Here

Skip Navigation LinksFSOkx Home > Research & Analytics > Analytics > Deal Analytics > Detail

Testimonials

"FSO's research was extensive and detailed. The data, in-depth interviews and market analysis was all customized and aligned with our business objectives. The cutting-edge research provided crystal clear picture of the market and helped us to devise our marketing strategy."

"The quality of insights and information of the report developed by FSO team helped us tremendously to understand the pain points, market gaps that existed within the GRC technology market. By highlighting successful strategies to gain competitive edge, the report facilitated simple and easy decision making."

"FSO’s quarterly deal analytics and vendor analytics report provides us a good overview of the industry trends and competitive landscape for business process outsourcing at functional levels. It helped us to assess our current offerings and develop a roadmap to further enhance our offerings, gain competitive edge and penetrate new markets."

"….because of their far-reaching membership community, for our research the data sample was collected from all geographies, designations, and market segments. This helped us to get a global picture of the whole industry and helped us to formulate an effective global marketing strategy for our services."

Follow us on

Deal Analytics

Bookmark and Share

Credit Card Payment Security - Industry Players Should Awaken before It’s Too Late


Competition in the credit card marketplace is heating up in 2011. The increase in credit card offerings in 2011 brings in more responsibilities for industry players. It is extremely critical to ensure the industry-wide adoption of card security measures to protect customers’ personal information. In this context, the results of a recent survey conducted by Information Security Media Group were very surprising. It revealed that more than 80 percent of banks experience credit or debit card frauds.

Not implementing the basic measures for ensuring card security along with the non-compliance with the Payment Card Industry Data Security Standard (PCI-DSS) is introducing new, unwanted risks for customers while using credit cards.

Not implementing the basic measures for ensuring card security: It is indeed high time that banks should start taking credit card data security seriously. Banks’ risky practices and negligence related to credit card transaction security could cost them severely. Efficient security teams that take care of password policy implementation, account lockout and other privacy protection measures for customers are a must. In the present era, wherein sophisticated technology threats are rising rapidly, appropriate systems are required to be in place for the alignment of internal procedures and technology defense.

Non-compliance with the Payment Card Industry Data Security Standard: According to the results of a survey of over 650 IT security professionals by Ponemon Institute, more than half of PCI-DSS regulated companies do not completely comply with the security standard. The standard is largely looked upon as a burden rather than a measure to enhance security. It was noted that to a large extent, the non-compliant companies experienced much more data breaches, which might have negative consequences such as reduction of sales. Moreover, demonstrating compliance generates a feeling of trust among the customers regarding companies’ security systems, which certainly adds on to the overall reputation.

Thus, the effort to ensure the implementation of the basic measures for card security and to comply with PCI DSS not only makes the credit card payments more secure but is also significant for a firm to remain in the business or move out of it.