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2016-01-26

Gemalto: Global study shows increasing security risks to payment data and lack of confidence in securing mobile payment methods

54% of surveyed IT professionals said their companies had a data breach
involving payment data, four times in past two years in average

Amsterdam, Jan. 26, 2016 -
With acceptance of mobile and other new forms of payments expected to double
in the next two years, a new global study shows a critical need for
organizations to improve their payment data security practices. This is
according to a recent survey of more than 3,700 IT security practitioners
from more than a dozen major industry sectors independently conducted by the
Ponemon Institute on behalf of Gemalto (Euronext NL0000400653 GTO), the world
leader in digital security.

Key Findings

According to the independent study on Payment Data Security, over half (54%)
of those surveyed said their company had a security or data breach involving
payment data, four times in past two years in average.
This is not surprising given the security investments, practices and
procedures highlighted by the surveyed respondents:

* 55% said they did not know where all their payment data is stored or
located.
* Ownership for payment data security is not centralized with 28% of
respondents saying responsibility is with the CIO, 26% saying it is with
the business unit, 19% with the compliance department, 15% with the CISO,
and 14% with other departments.
* 54% said that payment data security is not a top five security priority for
their company with only one third (31%) feeling their company allocates
enough resources to protecting payment data.
* 59% said their company permits third party access to payment data and of
these only 34% utilize multi-factor authentication to secure access.
* Less than half of respondents (44%) said their companies use end-to-end
encryption to protect payment data from the point of sale to when it is
stored and/or sent to the financial institution.
* 74% said their companies are either not PCI DSS compliant or are only
partially compliant.

"These independent research findings should be a wakeup call for business
leaders,"
said Jean-Francois Schreiber, Senior Vice President for Identity, Data and
Software Services at Gemalto. "Given what was found with traditional payment
methods and data security,
companies involved with payment data must realize compliance is not enough
and fully rethink their security practices, especially since a full one-third
of those surveyed said compliance with PCI DSS is not sufficient for ensuring
the security and integrity of payment data. The financial fallouts from data
breaches, and the damages to corporate reputation and customer relationships
will carry even greater potential risk as newer payment methods gain
adoption," added Schreiber.

New Payment Methods on the Rise and So Are Security Concerns

According to the study, acceptance of new payment methods such as mobile,
contactless and e-wallets will double over the next two years. While
respondents say mobile payments account for just 9% of all payments today, in
two years they expect this ratio to increase to 18% of all payments. Given
the issues companies IT professionals reported to face in securing payment
data accepted today through traditional methods, companies are likely to face
even more difficulties in securing new payment methods. In fact, the study
found that nearly three quarters (72%) of those surveyed believe these new
payment methods are putting payment data at risk and 54% do not believe or
are unsure their organization's existing security protocols are capable of
supporting these platforms.

"Looking forward, as companies move to accept newer payment methods, their own
confidence in their ability to protect that data is not strong. The majority
of respondents felt protection of payment data wasn't a top priority at their
companies, and that the resources, technologies and personnel in place are
insufficient. Despite the trend to implement newer payment methods, those in
the 'IT security trenches' don't feel their organizations are ready. It is
clearly critical for companies to look for and invest in solutions to close
these data protection gaps, expeditiously,"
concluded Schreiber.

To read the entire study and country-specific data findings, clickhere.

About the Survey

The survey was conducted by the Ponemon Institute on behalf of Gemalto and
surveyed 3,773 IT and IT security practitioners in the United States, United
Kingdom, Germany, France, Belgium, Netherlands, Japan, India, Russian
Federation, Middle East and South Africa. Industries represented include
Communications, Entertainment&Media, Financial Services, Government,
Healthcare, Hospitality, IT Services, Retail, Technology, Transportation, and
Utilities. All respondents are familiar and involved in their companies
approach to securing payment data. Most respondents are involved in setting
priorities and selecting vendors and contractors in their companies' payment
ecosystem.

Related Resources

* Infographic: Global Payment Data Security Trends
* Video: Secure the Breach - a Three Step Approach to Data Security

About Gemalto

Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security,
with 2014 annual revenues of €2.5 billion and blue-chip customers in over 180
countries.

Gemalto helps people trust one another in an increasingly connected digital
world. Billions of people want better lifestyles, smarter living
environments, and the freedom to communicate, shop, travel, bank, entertain
and work - anytime, everywhere - in ways that are enjoyable and safe. In this
fast moving mobile and digital environment, we enable companies and
administrations to offer a wide range of trusted and convenient services by
securing financial transactions, mobile services, public and private clouds,
eHealthcare systems, access to eGovernment services, the Internet and
internet-of-things and transport ticketing systems.

Gemalto's unique technology portfolio - from advanced cryptographic software
embedded in a variety of familiar objects, to highly robust and scalable
back-office platforms for authentication, encryption and digital credential
management - is delivered by our world-class service teams. Our 14,000
employees operate out of 99 offices, 34 personalization and data centers, and
24 research and software development centers located in 46 countries.

For more information
visitwww.gemalto.com,www.justaskgemalto.com,blog.gemalto.com, or
follow@gemaltoon Twitter.

Gemalto media contacts:

-----------------------------------------------------------------------------------------
| Philippe Benitez Peggy Edoire Vivian Liang |
|North America |
|+1 512 257 3869 Europe&CIS Greater China |
|philippe.benitez@gemalto.com +33 4 42 36 45 40 +86 1059373046 |
| peggy.edoire@gemalto.com vivian.liang@gemalto.com |
| Ernesto Haikewitsch Kristel Teyras Pierre Lelievre |
|Latin America Middle East&Africa Asia Pacific |
|+55 11 5105 9220 +33 1 55 01 57 89 +65 6317 3802 |
|ernesto.haikewitsch@gemalto.com kristel.teyras@gemalto.com pierre.lelievre@gemalto.com |
-----------------------------------------------------------------------------------------
Press release (PDF)
http://hugin.info/159293/R/1981119/725792.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gemalto via Globenewswire

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