What does Magento 1 end of life mean for you? This means that no quality fixes or security patches will be deployed by Adobe for Magento 1 after this date. So, if you are using Magento 1, you will need to migrate to either Magento 2 or an alternative platform ideally before June 1, 2020. If you do not, your business could be vulnerable to security breaches, and will not comply with the Payment Card Industry Data Security Standards (PCI DSS).
If you continue using Magento 1 after June 1, 2020:
Your risk of a data breach will increase
Magento 1 users will become a security target after June 1, 2020. The damage to your brand and reputation from such a breach can be long-lasting and very expensive.
You may not be compliant with the Payment Card Industry Data Security Standards (PCI DSS)
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, Requirement 6, is that you will implement security patches to keep your payment-related systems safe and secure.
If you continue using Magento 1 after June 1, without additional security measures, you may no longer comply with this Requirement as Magento will stop releasing security patches. As a result you can be fined between 10,000 and 25,000 EUR per month by card schemes.
Unfortunately M1 and M2 are fundimentally different, so its not going to be just a case of moving your current site over to Magento2, so now is a good time review your current site and develop it into something even better than before.
Unsure what to do next, then get in touch with us at Focus Ecommerce and we can help you through the process and assess your options for either Magento2 or an alternative such as Shopify, Woocommerce etc
For advice on how best to proceed Contact Us today for a chat or view our Full Service Eccommerce details