A recently released statement by Visa to banks and acquirers has flagged up another very important thread to the Magento 1 end of life in June 2020. This is that any store on Magento 1 after this date will not be PCI DSS Compliant.
The PCI DSS global standards are set by card schemes (such as Visa and Mastercard), and apply to all merchants that process payments. One of these requirements is that you must implement security patches to keep your payment-related systems safe and secure.
If you continue using Magento 1 after June 2020, without additional security measures, you may no longer comply with this requirement as Magento will stop releasing security patches. As a result you can incur hefty fines of thousands of pounds in the event of a security breach.
If you are still using Magento 1 and are concerned, or would like to discuss your options to upgrade, please get in touch with us.