An owner of a new restaurant likely would not hesitate to buy a $300 fire extinguisher to comply with local fire codes, but he might put off spending about half that much to ensure compliance with standards designed to protect customers credit card data, a new report suggests.
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Merchants and consumers are more mindful of security than ever, but there is still much work to be done to educate them on how to protect account data and prepare for the shift to EMV-chip cards. Fortunately, the industry has help. The ETA, which recently appointed Wells Fargo exec Debra Rossi as its president, is welcoming more technology companies to its ranks to help members adapt to the shifting competitive landscape.