Having just returned from Blackhat I have a wealth of topics that time permitting I may articulate under the arrogant notion that random people on the internet have some interest in my thoughts. Pertinent to this post is the ever popular habbit of PCI bashing at security conventions. Having thought of this, I think in some ways PCI is incredibly effective – wait, don’t go, just hear me out. Yeah, the PCI assessment process has a lot of shadiness, with various security service providers assessing areas where they have a vested interest in selling products. And yes, it’s fairly questionable that card data would actually be secure even if all of the controls were followed (your are in compliance until you have a breach, and then you are not), or that the card data wouldn’t be secure even if the controls weren’t followed (many ways to do things after all). And yes, there is a question as to whether said control list is updated often enough, or in the same breadth, too often. While we are on the topic there is criticism that the assessment process is pass/fail, rather than a graded rating that is publicized, and on and on. Mostly people think PCI is a giant pain in the ass.
That, by the way, is where I directly see the utility. PCI compliance really is a huge pain in the ass for a company – nobody actually wants to bother. And because of that companies large and small are getting out of the business of needing to be PCI compliant. They are offloading to a 3rd party processor to handle all of the card transaction stuff – essentially the paypal merchant model at scales much larger than mom and pop websites. While at some distant point in the future there is a worry about sufficient payment processors to offer competitive pricing (just like right now the huge market penetration of the actual credit card companies allows for some fairly predatory pricing), for the time being it is a great trend to see a consolidation of payment processing to fewer vendors. Rather than 1 million online vendors getting every security protection right I have a lot more confidence that a couple dozen vendors whose focus is on delivering that sort of service securely.
Put another way, for as evil as the big three credit agencies are (and one of them is responsible for some incredibly sketchy mortgage and student loan advertising scams), would you rather have those three agencies, or would you rather have thousands of companies creating independent credit databases of all your info for their individual use? While I question the big three I would much rather it was just them than every furniture store, car dealership, mortgage broker, bank, appliance company, etc. trying to secure their own versions of the databases. In the same way I think it much preferable to have only a couple companies securing card data – because it is really inconvinient to have to call my bank to cancel charges and wait the 7-10 days for a new card because some random website had their card database hijacked (and my bank probably finds eating those charges pretty inconvinient as well).
- Joshbw