The results of a recently published report from ControlScan and Merchant Warehouse show the size of a Level 4 merchant directly affects whether or not they are up-to-date on the latest PCI Data Security Standards.
The report found 45 percent of micro-merchants – those with one to 10 employees – said they are familiar with the PCI DSS. Conversely, 91 percent of large Level 4 merchants – businesses with 51 or more employees – said they are familiar with PCI compliance standards.
“Based on the results of this survey, we as an industry, have an opportunity to create better educational tools that can help the small to mid-sized merchants understand the importance and process of protecting cardholder data from the start,” said Henry Helgeson, co-CEO of Merchant Warehouse.
The report also found spending to achieve PCI compliance also correlates with merchant size. Fewer than half of micro-merchant respondents spend nothing on meeting requirements, while the majority of larger Level 4 merchants spend between $500 and $20,000.
Version 2.0 of the PCI DSS was released at the end of October. The standards set the data security bar for any business that accepts any form of credit, debit and charge cards.