The end of support for Magento 1 is almost here. For both Magento Commerce (formerly Magento Enterprise) and Magento Open Source (formerly Magento Community) the final bell is just 12 months away.
For eCommerce stores still depending on this soon-to-be-discontinued version of Magento, here are two factors that need immediate attention – (i) PCI Compliance and (ii) Magento Agency bottleneck.
#1 – PCI compliance
Your store is Magento PCI compliant for now. But, after June 2020, by using a version that’s no longer supported by Magento, your store might violate PCI compliance.
The PCI (Payment Card Industry) insists an eCommerce business owner to review (annually) both hardware and software technologies used by the store. This activity’s result should say that your store is Magento PCI compliant and confirm that your eCommerce brand meets the PCI rules.
When an eCommerce store continues using a platform that is no longer supported by its vendor (in this case, Magento), it violates PCI’s security standards and is vulnerable to security attacks and may not get support from Magento community for PCI compliance.
According to Magento, there are six categories to PCI compliance:
- Testing and monitoring networks regularly
- Building and maintaining a secure network
- Implementing strong security measures
- Having an information security policy
- Protecting user information, especially cardholder data
- Maintaining a vulnerability management program
As the support for Magento 1.x ends with June 2020, stores operating on Magento 1 will not pass the PCI rules due to lack of new security updates.
A store that’s not Magento PCI compliant might face multiple issues like:
- Unable to accept credit card payments 90 days after the support ends.
- Non-compliance attracts penalties ranging from $5,000 to $100,000.
- Additional penalties may be levied until compliance is met.
- Penalties if users’ credit card data is compromised.
- Compensating with the customer whose data has been compromised.
#2 – The Magento agency bottleneck
The rush hour is almost here. If you postpone your decision to migrate, you might join the long list of eCommerce brands waiting for a Magento development agency to take up their project.
Here is the math. According to data from BuiltWith, the number of companies currently using Magento 1.x would be almost 180,000. But, there are just about 350+ Magento agencies equipped to handle Magento 2 migration.
Any migration project takes 3 to 6 months based on the complexities involved. If, you still shelve the idea of migrating it would be too late to get migrated before the deadline as agencies may not be available to take up your project.
# Other factors to consider
Security vulnerabilities – Protecting your website from security loopholes becomes difficult due to lack of security upgrades.
Feature Updates – Your store will become stagnant without new functionalities and fresh user experiences, eventually losing out to the competition.
Plan your move to Magento 2 now!
Magneto PCI compliance and agency bottleneck will soon become major challenges for brands using Magento 1.x. It’s better to act immediately. Our Magento-certified developers can help you plan for a smooth migration.