By Aaron Press, Chase Paymentech
Heightened merchant concerns over securing sensitive cardholder information, as well as new PCI security mandates, have driven demand for integrated card data protection solutions. These concerns are well-justified. In a 2010 study conducted by the Ponemon Institute, the average cost of a data security breach for a U.S. merchant is in excess of $6.7M. The most expensive data breach event to date cost almost $31M to resolve.