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(Source – credit card debt statistics 2025 and Australian debit card statistics ) As digital transactions continue to grow, so do the challenges of protecting sensitive customer data. This is where PCIDSS (Payment Card Industry Data Security Standard) compliance becomes essential for Australian businesses.
For now, there are no calculations for 2020, but let’s hope the trend continues. One of the key factors making it possible is the industry’s joint efforts to enhance card transactions security, reflected in PCIDSS. What is PCIDSS? The abbreviation is for Payment Card Industry Data Security Standard.
In 2019, 77% of US consumers were using at least one type of digital payment system. By the end of 2020, that rose to 78%. What has grown more significantly is the number of electronic payments and alternative payment methods consumers now use. It involves transferring funds directly from one bank account to another.
Ensure that your chosen payment processing solution complies with industry standards and regulations, such as the Payment Card Industry Data Security Standard (PCIDSS) and takes EMV chip cards. Keep in mind, Apple isn’t the only technology giant offering this service.
During the 2020s, almost all businesses will have been looking at b2b payments processing solutions to meet changing consumer needs. Online and contactless adoption multiplied, and digital payments rose. Between 2019 and 2020, the number of U.S. consumers using two or more types of digital payment methods increased by 8%.
In its turn, it resulted in the payment processing business getting increasingly prosperous, making it the right time to start a payment processing company. In 2020-2021, while some industries struggled to make ends meet, the payment processing market hit the headlines with major deals. To name a few, Worldline’s $8.6
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