Payment Cards and UK Retailers Data

The UK Retailers have failed to monitor the credit card transactions for who is accessing the data within the company.  About 45 percent of the UK retailers that have been surveyed admitted they are not able to track or trace any data accessing that goes on.  These retailers are supermarket chains, department stores, and clothing retailers.

The problem has been laid at the door of budget restrictions, time, and other priorities.  The recent study completed also looked into the actual business efficiency.  It seems that most of the businesses say they have the tools needed for the data management.  55 percent of the companies can track the data, but 25 percent can only identify and analyse any breaches that occur in an hour.

31 percent of the company didn’t have any clue as to how much time would be involved in tracking and tracing the data accessed, and 14 percent said it could take up to eight hours to track the data.

Many believe that a need for being able to track and trace the data accessed is very important especially with new regulations regarding payment cards and security standards.  Large organisations can find the resources, but for smaller businesses they tend to neglect the tracking.  When the results were released no one was particularly surprised by the results because of the need for a large amount of resources in order to do the tracking and tracing, added to the hours needed to make sure nothing is going wrong with the cards.