Upgrade to Magento 2: Payment Companies Are Urging Magento Owners
Magento announced that it would stop supporting all versions of Magento 1 from June 2020. E-commerce business owners who use Magento 1 platform hardly have a month to migrate. Despite that, a decent number of merchants around the world haven’t migrated to Magento 2 yet. Upgrading to Magento 2 isn’t a choice to make. If you would like to continue using Magento, then upgrading to Magento is the only to keep your e-commerce website safe and secure.
Magento 1 will no longer comply with PCI compliance
Besides usual hacking and security threats, one major problem Magento owners are going to face is payment gateway non-compliance.
Payment Card Industry Data Security Standards (PCI DSS) clearly states that merchants should maintain a secure platform that receives regular security patches from vendor.
PCI DSS Requirement 6: Develop and maintain secure systems and applications
All systems and software must be protected from known vulnerabilities by installing critical security patches within one month of release, and all non-critical security releases should be installed within about three months of release.
Clearly, Magento 1 owners can no longer fulfill this requirement. Magento will not release security patches for 1.x after June 2020.
Failure to become PCI compliant can result in fines in excess of $10000 from credit card companies. In a worst-case scenario, non-compliance may lead to an FTC (Federal Trade Commission) audit. Besides, customers can sue you for providing them an unsecure shopping environment that could potentially leak their payment or personal information.
In addition to payments, there are many other consequences that could hit your e-commerce business hard if not upgraded to Magento 2.
- Your Magento website will become highly unstable without security patches
- It may degrade to an extent that your visitors find using the website difficult
- The risk of exposing your customers’ payment and personal data is very high
- You can no longer add new features or functionalities as most new extensions are never made for 1.x
- Existing extensions can be unstable or may stop working
- You may find it hard to find Magento 1.x developers
Migrate to Magento 2 with Exinent
At Exinent, we have helped hundreds of e-commerce businesses migrate to Magento 2. We know and understand that the times are tough now due to COVID-19 and merchants may find it hard to allocate budget for Magento 2 migration.
Exinent has been offering a six-month payment plan to help e-commerce business owners migrate to Magento 2.
Contact us today for more details.