Tag: pci security standards council

New security mandates could improve the e-commerce space

| April 10, 2015

PCI Security Standards Council releases new security mandates that e-commerce enterprises must follow

E-commerce enterprises could be penalized if they do not abandon their outdated security protocols. The PCI Security Standards Council has released mandates that businesses must follow, requiring retailers to move away from Secure Sockets Layer (SSL) and embrace Transport Layer Security (TLS) protocols. SSL is a standard security technology that establishes an encrypted connection between a server and those accessing it, but this technology is beginning to grow outdated, especially as cyber attacks become more sophisticated.

Digital attacks are becoming a major threat for the e-commerce world

The PCI Security Standards Council has introduced new security mandates as a response to recent, high-profile digital threats, such as Heartbleed and Shellshock. These threats have caused significant turmoil in the digital space, and e-commerce enterprises may be exposed to risks that have yet to be detected. The organization is now urging e-commerce companies to make changes to their web servers so that they are compatible with TLS protocols. These companies are also being tasked with abandoning SSL support.

Security standards may have an impact on the mobile commerce space as well

Security - e-commerce and mobile commerceThese new security mandates will also affect the mobile commerce space. The mobile space has become a valuable target for malicious groups that aim to exploit financial information. Commerce applications are still relatively new, and the companies responsible for these apps are not yet versed in the various risks that exist in the digital space. As such, many apps lack the security they need to find mainstream success and adoption. New security standards could help solve this problem, offering consumers peace of mind when they participate in mobile commerce.

Many companies are still not fully compliant with security standards from the PCI Security Standards Council

Notably, many companies still fail to comply with security mandates issued by the PCI Security Standards Council. According to a recent survey from Verizon, 28% of companies are not fully compliant with security standards nearly a year after they received validation for their security protocols. This could become problematic, as these companies may be unnecessarily exposing themselves to digital risks.

New mobile security guidelines introduced by PCI Security

| February 23, 2013

New Mobile Security GuidelinesPCI Security publishes guidelines for mobile security

The PCI Security Standards Council, a global forum for the development of payment security standards, has published new guidelines to help educate the world’s merchants on the issue of mobile security and how it relates to mobile commerce. Consumers have been growing more interested in mobile payments in recent years, creating significant demand for merchants to adopt mobile commerce systems. As these merchants become more accommodating of consumer demand, security is becoming an increasingly important issue.

Guidelines expected to help merchants make mobile commerce more secure

The new guidelines from PCI Security are meant to help merchants understand the complexities that exist in the world of mobile security. The guidelines may help merchants better protect their customers as they become more accepting of mobile commerce. PCI Security has put strong focus on mobile transactions that make use of payment card data, rather than transactions made directly through a bank account. Connecting a payment card to a mobile device is becoming more common, as consumers consider this a more convenient and secure way to participate in mobile commerce.

Mobile security will help secure growth of mobile commerce market

According to a recent study from Juniper Research, a leading market research firm, mobile transactions are expected to reach $1.3 trillion globally by 2015. This is four times higher than the current level of mobile transactions volume. The firm suggests that this steep increase in mobile commerce is due to businesses becoming more interested in ensuring they can accommodate the needs of mobile consumers. In order for this growth to become a reality, however, businesses will have to adopt better security features to protect consumers.

Evolving threats may make it difficult to ensure security

Mobile security continues to be a major area of concern in the realm of mobile commerce. PCI Security’s new guidelines are expected to help merchants adopt better security standards for their payment systems, but the constantly changing security landscape may make it difficult for businesses to stay up-to-speed with the most current threats that exist in the mobile space.