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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now