PCI Security Standard Council has made incessant efforts to ensure that app-based payment companies are functioning within the safety blanket. Continuous ignorance from Fintech organization has coaxed PCI Council into introducing norms that hold them liable for the damage. In a recent study, it was found that 59% of Fintech organizations have flunked PCI DSS
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PCI QSA: How Organizations Can Select The Right One For PCI DSS Certification
A report reveals by 2022, mobile transactions are projected to grow by 121%, eventually composing 88% of all banking transactions. With network penetration increasing in India and China, mobile-based payments are expected to cover 95% of transactions by 2025. Backed by technological advancements like peer to peer transaction and biometric protection, payment based apps have
PCI DSS Compliance – Every Question Answered for You
In the biggest Fintech markets like India, China, and the USA, the adoption rate of online payment rose from 16% in 2015 to 60% in 2019. With an increment of almost 100% every two years, it is evident that online transaction is now the preferred mode of payment. On the other hand, the global e-commerce
Preparing for PCI DSS Certification? Things to know!
Anyone who says PCI DSS Certification is expensive must understand that the average cost of the data breach has risen to $3.92 million. Ignorance is perhaps the biggest reason behind the increasing number of attacks. 71% of companies have failed to comply with PCI DSS Certificates after the first year. Payment Card Industry Data Security
PCI DSS: A Necessary Evil for Fintech Companies?
A study by Singularity University reveals “About 46% of today’s consumers use digital channels exclusively for their banking”. Another study by Capgemini highlights “half of the banking customers globally are now using Fintech firms”. Such wide acceptance of Fintech Companies has got both government and investors interested. While the government is banking upon the Fintech
The Definitive Guide to PCI DSS Compliance
Every month, a major organization suffers a breach, customers seethe, media outrages, regulators impose substantial fines and we forget about it until a bigger breach occurs, this time the impact is grandeur and engulfs millions of users. This iterative cycle of a data breach is the reality of the connected world we live in. Data