Two months after the deadline for a new credit card security standard to safeguard consumer data, more than half of retailers are even aware of its existence, according to research.

A survey of nearly 100 retailers reveals that 73 per cent have taken no action to put the Payment Card Initiative (PCI) in place, with 55 per cent not even aware of the standard.

The initiative covers data encryption for the transmission and storage of credit card transaction data, and makes retailers and card providers liable for any loss of that information.

The standard was launched by Visa and MasterCard in January 2005, and the deadline for compliance passed on 30 June. Failure to comply could lead to fines or even to companies losing the right to process credit cards.

But the survey by vendor Logic Group suggests that none of the businesses questioned are PCI-certified, and that 43 per cent have no plans to implement the security standard.

‘We will continue to encourage and motivate acquirers and merchants,’ said a Visa spokesman.

A MasterCard spokesman added: ‘We have communicated the need for compliance to all our members.’