Visa Urges E-commerce Merchants To Migrate To Magento 2

Blog

Connect, Educate, Learn, Collaborate...

14Apr
2020

Your Developer Has Informed You | Magento Has Told You | Now Visa Is Telling You…

Don’t Wait Until It’s Too Late – Magento 1 Unsupported After June 2020

Payments processor Visa recently urged e-commerce merchants running their online stores on Magento 1.x to migrate to Magento 2.x. The e-commerce platform Magento 1.x is rapidly becoming obsolete as it approaches end-of-life (EoL) in June 2020 and will be unsupported by Adobe after July 2020.

Even though Magento developers, e-commerce agencies and Magento, an Adobe Company have warned merchants to migrate their e-commerce store to Magento 2.x before Magento 1 becomes unsupported the website BuiltWith currently shows 126,000 Stores are still on Magneto 1.

Visa is now warning merchants to migrate their store to Magento 2.x to avoid exposing their e-commerce website to Magecart attacks and to remain PCI compliant. Adobe has repeatedly stated as of June 2020 there will be no more security patches for Magento 1.x and sites that have failed to migrate will be vulnerable with an increased risk to the payment card data security.

The release by Visa states “Visa is committed to enhancing both the security and quality of payment services available in both Card-Present and Card-Not-Present environments. Merchants must be cognizant of their responsibilities in securing their environment to help prevent the loss of payment card data.”

Consequences of not migrating:

  • You will fall out of compliance with PCI DSS;
  • Your e-commerce site will be more exposed to risks and data compromise due to the lack of security upgrades;
  • Without any upgrade or security patches, your ecommerce site may degrade and become unstable;
  • The functionality of your store’s extensions or plug-ins may break or become unavailable;
  • Over time, Magento migration would be way more costly and developers will only be familiar with Magento 2.

As per a guideline for Visa Supplemental Requirement “A member is subject to a non-compliance assessment of $100,000 per incident for failing to adhere to its requirements.” Merchants also need to pay an investigation fee of up to $ 10,000.

Merchants considering the transition to Magento 2.x should view this as more than just a simple “version upgrade”.

Magento 2 is an entirely new platform with substantial differences from Magento 1.

What Makes Magento 2 Different

There are many features and benefits that make growth and scaling up easier than ever. Building your site with Magento 2 allows it to keep pace with the overwhelming public’s transition to Mobile while adding powerful functionality and improved visual appearance. Here are the top four features that you will love about Magento 2.

  1. Efficiency -Speed

Faster content loading, catalog and web pages opening is the name of the game when it comes to efficiency, and Magento 2 can load 2 million pages while processing 250,000 orders per hour. This offers owners extensive scalability and blistering speed, creating a seamless user experience.

  1. Rapid Adaptability

Response to changing demands and volume will make or break an e-commerce operation. Owners need the ability to create and roll-out changes on short notice. Growing businesses need Magento 2’s adaptability to rapidly adapt to changing circumstances and demands quickly. No matter what you need your e-commerce site to do, Magento 2 has you covered.

  1. Secure Checkout Processes and Procedures

Data breaches are still a very real threat in 2020, and e-commerce sites need to offer their customers ironclad data protection and security if they plan on earning repeat customers. To that end, Magento 2 offers secure guest checkout, and the new design has integrated anytime sales.

  1. High-Quality Video Integration

In 2020 video is king. Product demonstration and unboxing videos have a proven reputation for increasing conversions and closing sales for e-commerce orders.

Magento 2 makes it a simple link to the third party video site of your choice (YouTube, WeVideo), and it adds your clip to product descriptions along with a title and short description. Best of all, if you want to add an introduction video that seamlessly integrates with your landing pages, all you need to do is drag and drop.

To ensure a smooth transition, you should consider the migration process a new build or a full rebuild project. You will need to find the Magento 2.3-compatible version of your store’s extensions. The custom code for your store will need to be reviewed or rewritten to be compatible with Magento 2.3.

JUNE 2020 is approaching you should begin the process of migration immediately.

Mike Patel
Mike Patel

Archive