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AN ANALYSIS OF THE CHALLENGES AND SPECULATIONS RELATED TO SMALL BUSINESS NON-COMPLIANCE WITH PAYMENT CARD IDENTIFICATION DATA SECURITY STANDARDS

This capstone project used a qualitative inquiry technique to examine the lack of PCI DSS non-compliance for small business owners in the United States. Problem. The Business Technical problem is small businesses are failing Payment Card Industry Data Security Standards (PCI DSS) compliance which can result in exposure to data breaches and have significant repercussions and damages. The PCI Compliance Guide addressed a number of myths and factors contributing to the non-compliance of small businesses with PCI DSS, many of which have not yet been clarified. Purpose. This qualitative study examines the factors that influence small business owners to comply with security standards like PCI DSS. Several myths need to be validated during the study. Method. This project used a qualitative research approach in the form of one-on-one recorded phone interviews to gather data from eleven small company owners located in the United States. Population. I interviewed 11 small business owners with PCI DSS knowledge. Results. The study revealed small businesses' expectations, speculations, PCI awareness, intention to comply, the perceived cost associated with breach, costs and funding as factors influencing noncompliance. Implications/Uses. This qualitative study evaluated practical strategies and implications for business owners' intention to comply in order to prevent cyber breach fines, reputation damage, criminal penalties, data breaches, and business closure. Social change could lower compliance costs, boost awareness, overcome challenges, and embrace blockchain technology, as businesses turn to cryptocurrency during a global/US business market crisis