Navigation

FIVE LEADING PAYMENT BRANDS UNITE TO STRENGTHEN GLOBAL DATA SECURITY

Oct 10, 2006

The founding of the PCI Security Standards Council, LLC, marks a significant milestone in the payment industry's efforts to secure payment account data in a globally consistent manner. Ultimately this means that more than a billion global payment card users will benefit from a higher level of security protection against data theft and fraud.

"The payment brands that founded the Council are committed to ensuring the ongoing development of data security standards that are both efficient and effective," said Seana Pitt, chairperson, PCI Security Standards Council. "The creation of this Council is a significant step forward in protecting cardholder information and it underscores the critical nature of this effort."

By establishing the independent Council to manage the PCI Data Security Standard for the payments industry, the founding members are developing a system that is more accessible and efficient for all stakeholders including merchants, processors, point-of-sale (POS) vendors and financial institutions.

Specifically, the PCI Security Standards Council will:

* Develop and maintain a global, industry-wide technical data security standard for the protection of accountholder account information;

* Reduce costs and lead times for Data Security Standard implementation and compliance by establishing common technical standards and audit procedures for use by all payment brands;

* Provide a list of globally available, qualified security solution providers via its Web site to help the industry achieve compliance;

* Lead training, education, and a streamlined process for certifying Qualified Security Assessors (QSAs) and Approved Scanning Vendors (ASVs), providing a single source of approval recognized by all five founding members;
and

* Provide a transparent forum in which all stakeholders can provide input into the ongoing development, enhancement and dissemination of data security standards.

"Ensuring the security of electronic payments is of paramount importance to all stakeholders, not just the payment brands," continued Pitt.

To that end, the PCI Security Standards Council invites all parties with a role to play in securing payment account data - including merchants, payment devices and services vendors, processors, financial institution and others - to participate in the new organization.

Participating organizations will be able to recommend changes, provide input on future initiatives, have access to and the ability to comment on drafts of potential changes to security standards in advance, as well as influence the organization's overall direction. In addition, participating organizations will be able to elect or serve as a member of the PCI Security Standards Council's Board of Advisors.

The PCI Security Standards Council will serve as an advisory group and manage the underlying PCI security standards, and each payment card brand will remain responsible for its own compliance programs.

As its first action, the PCI Security Standards Council also announced today the PCI Data Security Standard version 1.1. The new standard addresses evolving security threats and recommends that merchants and vendors take action to fortify application and network level security. It provides a framework for ongoing PCI compliance.

For more detailed information on PCI DSS 1.1, the Council's organizational structure and how to join, please click here.

About PCI Security Standards Council The mission of the PCI Security Standards Council is to enhance payment account security by fostering broad adoption of PCI security standards. For more information, please click here.

For further information contact: Text 100 for PCI Security Standards Council 212-871-4083 pci@text100.com

PREVIOUS POSTS
Jul 26.06 | Woman wins suit against Equifax

A federal jury has ordered Equifax Information Services LLC to pay a Nokesville woman $351,000 in actual damages from an identity theft lawsuit. read more

Jul 24.06 | VISA MODIFIES MERCHANT CATEGORIES IN PCI COMPLIANCE

Visa USA announced Friday changes in merchant categories for its Payment Card
Industry Data Security Standard (PCI). read more

Jun 06.06 | Catherine N. Pagliaro, CEO, C.N. Wylie Group Inc., DESIGNATED ePHILANTHROPY MASTER TRAINER (ePMT)

Vancouver, British Columbia (June 5, 2006)
Catherine N. Pagliaro, CEO, C.N. Wylie Group Inc., is one of 49 fundraising professionals from around the world to be named an ePhilanthropy Master Trainer (ePMT) by the ePhilanthropy Foundation. read more

May 29.06 | PCI OVERSIGHT BODY IN THE WORKS:

PCI OVERSIGHT BODY IN THE WORKS: Five U.S. card networks reportedly are discussing the development of a formal organization to oversee the
Payment Card Industry Data Security Standard, commonly known as PCI. read more

May 26.06 | Batten Down Online Shopping Carts, Visa Warns!!!!

BATTEN DOWN ONLINE SHOPPING CARTS, VISA WARNS: Visa USA is warning today
of an increase in a particular type of attack on online merchants and
recommending strategies to address it. read more

Mar 16.06 | C.N. Wylie Group Inc. Achieves PCI DSS Compliance Dec. 12, 2005!

Vancouver, BC – Dec. 12th, 2005
The C.N. Wylie Group of Companies including: PayPaq Solutions Inc.; Strategic Profits Inc.; Helpforcharities.com Inc.,; SPIguard Security Solutions Inc.; Communitystorefronts.com is pleased to announce that they have achieved compliance through the PCI (Payment Card Industry) DSS (Data Security Standards)! read more

Nov 06.05 | Helpforcharities.com Inc. completes INTERAC Online integration for Canadian Red Cross

VANCOUVER, British Columbia-- (BUSINESS WIRE)-November 6, 2005-
Helpforcharities.com Inc. announced today the "go live" of INTERAC Online
technology by completing integration of the new INTERAC Online technology to Canadian
Red Cross's online donation page read more

Jul 15.05 | Helpforcharities.com Inc. launches two new online charitable giving services, Donor Management System and Donor Form Management System

VANCOUVER, British Columbia--(BUSINESS WIRE)-July 15, 2005-C.N Wylie Group Inc. today announced the launch of two new online fundraising services through Helpforcharities.com Inc. read more

ARCHIVE