Countdown to GDPR: Data Protection Regulations Will Affect U.S. Payment Card Issuers in Less Than 40 Days

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Mercator Advisory Group releases a new research report summarizing EU consumer data privacy rules that will affect U.S. issuers beginning May 25, 2018.

One of the 10 exhibits included in this document

Keep in mind that compliance with PCI does not mean your organization satisfies GDPR’s privacy and data breach requirements. If there is even one EU citizen in your credit file, you need to ensure compliance.

Comprehensive European Union privacy rules take effect for all industries in late May 2018. The change affects all verticals including bank cards. U.S. industries must examine their customer bases to ensure they are not at risk.

Mercator Advisory Group’s latest research report, General Data Protection Regulation: The European Union’s Cross-Industry Approach to Data Protection, summarizes the specifics of the EU’s new privacy rules and risks to U.S. businesses that do not prepare for the latest EU mandates.

“Unlike the revised Payment Services Directive (PSD2), which has only a partial influence on U.S. card markets, the General Data Protection Regulation can cause non-European markets regulatory fines,” comments Brian Riley, Director, Credit Advisory Services, at Mercator Advisory Group, the author of the research report. “Keep in mind that compliance with PCI does not mean your organization satisfies GDPR’s privacy and data breach requirements. If there is even one EU citizen in your credit file, you need to ensure compliance.”

Highlights of the research report include:

  • Comparison of U.S. and EU noncash payments
  • Projected EU noncash payments in the EU market, 2013–2022
  • Noncash usage in EU and population by country
  • Six objectives of the General Data Protection Regulation
  • Penalties for noncompliance

This research report contains 19 pages and 7 exhibits.

Members of Mercator Advisory Group’s Credit Advisory Service and Global Payments Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.

For more information and media inquiries, please call Mercator Advisory Group's main line: 1-781-419-1700, or send email to media(at)mercatoradvisorygroup.com.

For free industry news, opinions, research, company information, and more, visit us at http://www.PaymentsJournal.com.

Follow us on Twitter @ http://twitter.com/MercatorAdvisor.

About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal Paym

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