Stores Magazine - October 2007 - (Page 30) EXECUTIVE SUITE / COVER STORY BY SUSAN REDA, EXECUTIVE EDITOR T he September 30 deadline for Payment Card Industry Data Security Standards (PCI DSS) has come and gone. By now, Level 1 retail companies — those processing more than six million credit card transactions per year — should be compliant with security standards first formed six years ago and formally put in place in December 2004. Compliance percentages vary depending on whom you talk to, but the bottom line is this: despite retailers’ best efforts, hundreds of millions of dollars spent replacing and updating IT software/hardware and thousands upon thousands of labor hours devoted to the task, full PCI compliance continues to elude many companies. “Securing credit card data is imperative and there isn’t a reWWW.STORES.ORG How many retailers are actually compliant? The figure is difficult to discern. Back in July, Visa, which has emerged as the de facto leader in managing the PCI initiative, published a press release saying that 40 percent of Level 1 retailers were compliant and another 50 percent had submitted initial validation reports, indicating that – though not fully compliant – they were working toward that goal. 30 STORES / OCTOBER 2007 http://WWW.STORES.ORG
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