Update, 1:20 p.m.: A major correction is in order for this story: A spokesman for Visa just contacted me to say that the new deadlines actually apply to all non-U.S. retailers except those in Europe. The spokesman said Visa Europe is its own association and is subject to a different set of timetables. I will update this story with exactly what the European timetables are when I hear back from Visa Europe. Original post: Visa Inc. on Monday dramatically expanded its credit and debit card security requirements to retailers in Europe, an unexpected move that could be a financial boon to security auditing companies, but a huge cost for European merchants already feeling the pinch from the global financial crisis. The new payment card industry (PCI) mandates (PDF) that certain on- and offline European retailers stop storing the data read when the customer’s credit or debit card is swiped through