National Retail Federation and First Data Launch Survey of Data Security and Fraud Prevention Strategies Practiced at Small to Mid-Sized Retailers
ATLANTA and WASHINGTON, Nov. 11, 2010 – This holiday season, whether you shop at a small business with one checkout counter or a large retailer with hundreds of locations, chances are there are several layers of security being applied behind the scenes to protect your sensitive payment card data.
The National Retail Federation , the world's largest retail trade organization, and First Data Corporation , a global leader in electronic commerce and payment processing, have partnered on a research study of data security and fraud prevention strategies practiced at small to mid-sized retailers.
"Research like this is crucial for creating more awareness about the efforts retailers are undertaking to safeguard our customers' data," said David Hogan, senior vice president and chief information officer of the National Retail Federation.
Some of the topics small business owners will be surveyed on include:
- Attitudes toward the importance of data security and fraud prevention
- Most common actions taken to prevent payment card security fraud
- Business types with the least amount of data security fraud detected
- Knowledge of the Payment Card Industry Data Security Standard (PCI DSS)
Previous research conducted by First Data reported that 80% of small and mid-size merchants described themselves as "very concerned" about payment card security.
"Data security and fraud prevention are important topics for merchants of all sizes and categories," said Ed Labry, president of Retail and Alliance Services, First Data. "As fraudsters appear to be moving down market after targeting the larger retailers, we are seeing smaller businesses arming themselves with the latest technology and tools to fight back. We believe our survey results will validate this trend."
Data from the Small Business Data Security Study will be fielded through Nov. 19, 2010 with full results being reported in early 2011.
About National Retail Federation
As the world's largest retail trade association and the voice of retail worldwide, the National Retail Federation's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the U.S. and more than 45 countries abroad. In the U.S., NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2009 sales of $2.3 trillion. www.nrf.com .
About First Data
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com .
Elizabeth Grice, First Data
Kathy Grannis, NRF