"Version 1.1 of the standard (pdf) will make certain that payment applications do not store sensitive data..."

Version 1.1 of the standard will *attempt to* make certain of this. If past versions of PCI are any indication, the standard will continue to be violated by the overwhelming majority of merchants, and therefore, PCI 1.1 will have little or no security impact for the immediate future.

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Link to this comment: http://www.securityfocus.com/comments/newsbriefs/724/2449#2449