It seems that each week there's a new payment method on the market. Whether it's the launch of a new mobile payment platform or the looming October deadline for EMV migration, merchants may feel a sense of urgency to implement systems that give their customers a variety of options for purchases. However, a new study by Dublin, Ireland-based Experian and the Michigan-based Ponemon Institute found that retailers may need to realign their priorities when it comes to new payment platforms. 

"While risk and security concerns loom, large and new technologies are being deployed because they offer vastly improved customer convenience. Throughout our study, we found a large percentage of companies are likely to keep moving forward with deployment of new technologies despite concerns about security," said the report. The study also found that more than half of merchants valued customer convenience for payment platforms over data security. 

This is a troubling trend for customers and payment experts alike. When considering a company's options for receiving and processing payments, sometimes jumping to adopt the latest and most talked-about system on the market isn't the best course of action. When businesses aren't prepared to monitor and remain compliant on systems in use, vulnerabilities emerge.

Despite the hype that surrounds new payment methods, the most important aspect of data security is doing what you do, well. Instead of rushing to adopt the latest platform on the market, refining, monitoring and updating the systems you use can protect your company from a breach. 

Our team of experts at Vantage can help your business select and deploy the most secure and appropriate payment platforms. With the guidance of a third-party service provider, enterprises can make careful decisions about which systems they implement.