Latin American companies' knowledge and enforcement of PCI regulations are light-years behind counterparts in other regions, US intelligent integrated solutions provider Radware's (Nasdaq: RDWR) VP for security solutions, Carl Herberger, told BNamericas.
Whereas there are nearly 478 participating organizations in North America, 93 in Western Europe, 33 in Asia-Pacific and 17 in Eastern Europe, the Middle East and Africa, Latin America finishes in last with 11 institutions.
"There has been a feeling in Latin America that 'we'll see what happens in North America, and then we'll deal with it,'" he said.
Still, certain businesses in the Caribbean are turning into the exception to this overarching trend, Herberger said. "A lot of the companies that have demand are in the Caribbean, and they are the online gaming sites. They've decided that they want to be PCI-compliant out of the box."
Radware's Latin American channel sales manager, Miguel Porto, echoed Herberger's remarks, saying that Latin America may finally be at a turning point.
"There hasn't been as big a push in making people aware of some of these requirements," he said. "Everyone has heard a little bit about PCI, but it wasn't until this year that I started to see people doing something about it."
Despite the potential, Latin America is inevitably behind, Porto added.
"It means that [companies such as] Visa and MasterCard are not paying much attention to CALA in terms of enforcement. If you start seeing some fines and enforcement, people would start paying more attention. But that hasn't happened."
PCI DSS is a set of requirements designed to enhance payment account data security. The regulation defines standards for security management, policies, procedures, network architecture and software design, among other areas.
According to the PCI website, the 11 participating organizations in Latin America are Brazilian card industry association Abecs; Brazilian data center company Alog; Brazil's Banrisul bank; Brazil's leading card acquirer, Cielo; Brazilian payment service provider Cobre Bem; Brazilian credit card processor Conductor; Brazilian IT products and services provider GetNet; Panamanian payment processing company Processing Center; Brazil's second-place card acquirer, Redecard; Mexican firm Servicios Electronicos Globales; and Brazilian IT and business process outsourcing firm Tivit.