Nearly 90 percent of acquirers agree that merchants struggle to understand which security tools they need to ensure their business and customers are protected.
And the same number are unhappy about their current PCI program compliance threats.
This is also confirmed by the latest Verizon payment security report. In truth, the traditional one-size-fits-all approach remains at best, a tick box exercise for many merchants.
It's no wonder that SMEs don't actively engage with PCI programs because they think that PCI DSS compliance is at best an administrative burden from which they derive little or no value, especially in times of crisis.
It is also common to see the imposition of penalties to drive merchant compliance. But the evidence suggests that this doesn't work and most acquirers now agree that PCI related fees are not the answer to reduce risks.
So do current PCI portals help? Well, in my experience, they focus on evidence of PCI compliance, not portfolio risk. They add friction to the sales and onboarding processes. They, of course, consume time and resources, and their only, and they only cater for the needs of directly acquired SME merchants with little or no provision for large merchants or payment facilitators or PSPs, franchises, and other kinds of aggregator models. In other words, current PCI portals haven't moved on with the times.
But what if there was a better way to manage risk in the merchant portfolio? What if you could have an agile merchant risk management facility? What if you could have an actionable risk intelligence capability with security scoring and streamlined onboarding? What if you could have a solutions and services marketplace specifically tailored to your merchants and their risk profile?
ZeroRisk is to cyber security in general andPCI compliance in particular, what QuickBooks is to invoicing and tax reporting. No need for armies of staff to manage your portfolio. No need for merchants to answer questions that don't understand or use tools they don't need. With maximum automation and maximum efficiency, ZeroRisk gives you merchant portfolio risk management, the easy way!
So be part of the paradigm shift.