Many small merchants still unaware of PCI Data Security Standards

Many small merchants still unaware of PCI Data Security Standards

Data security breaches and identity theft continue to make news, but just more than half of small merchants are aware of PCI Data Security Standards.

According to a recent survey by a leading PCI compliance solution company, only 53 percent of small merchants are at least aware PCI DSS exists, an increase from 47 percent last year.

While 84 percent of small merchants believe data security is important, such companies account for 85 percent of all data breaches, the report said. Despite limited knowledge of PCI DSS, 83 percent of respondents said their business had a low or nonexistent possibility of suffering an information breach.

"Most of them are worried about running their business rather than security," said PCI compliance expert Markiyan Malko, according to Digital Transactions. "They don’t seem to be that worried about it. Hackers have tools, it's automated and doesn’t take that much time. It adds up pretty quickly."

According to the U.S. Department of Homeland Security, hackers have recently adapted to larger companies upgrading their security systems, and small businesses are now a prime target. Smaller organizations usually have less resources to remain secure from always-changing cyberthreats.