NEW YORK—For the third year in a row, global compliance with the standard for storing and transmitting credit card information has plummeted, according to a new study.
The report from Verizon reveals the hospitality, retail and financial sectors are struggling the most with compliance.
According to Verizon’s data, based on its own audits of companies in 60 different countries, companies that were fully compliant with the Payment Card Industry (PCI) standard dropped from 55.4% to 27.9% between 2016 to 2019.
The 2019 figure is the lowest rate of full compliance since 2013, noted SC Media.