According to a research conducted by Experian Data Breach Resolution and Ponemon Institute, more than 50% of survey respondents believe the use of mobile payments systems increases the risk of suffering a data breach. More than half accept that risk (53%) and noted that, for their company, customer convenience is more important than security. 64% of survey respondents believe it is more challenging to secure payment card information that other personally identifiable information.
Findings indicate that 69% of survey respondents said media coverage of payment breaches over the past year caused their organizations to re-evaluate and prioritize security. Prioritizing breach prevention and response is gaining traction; 45% of survey respondents increased their security budgets. In addition, 41% hired more security staff, and 54% invested in new security technologies.
Companies are taking steps to prevent future breaches included an increase in employee training (65% of survey respondents) and improving or putting a data breach response plan in place (56% of survey respondents).
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