Only 20 percent of payment card-accepting companies complied with the full set of international security standards in 2013, according to a new report from Verizon. The 2014 PCI Compliance Report looked at how hundreds of retailers, hospitality companies, financial service firms and other organizations followed the standards established by the PCI Security Standards Council.
While complying with PCI standards is not required by law, companies that meet those requirements are better prepared to meet other regulatory security requirements. They can also be eligible for better commercial terms from payment card service providers.