Irdeto to partner with PCI Security Standards Council to improve payment data security worldwide
Apr 11, 2017
As Council's newest Participating Organization, Irdeto to contribute to the development of PCI Security Standards
AMSTERDAM - 10 April 2017 - Irdeto, the world leader in digital platform security, announced today that it has joined the PCI Security Standards Council as a new Participating Organization. Irdeto will work with the Council to achieve and improve payment data security worldwide through the ongoing development of the PCI Security Standards, including the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS).
Endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., the PCI Security Standards require merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data protection – not just once a year, but as part of a business-as-usual security posture. To enhance payment data security globally while embracing new technologies as they are developed, the Council relies on involvement of those across the payments processing chain, from merchants and service providers to payment device manufacturers and software developers, financial institutions and processors.
As a Participating Organization, Irdeto adds its voice to the standards setting process and will receive previews of drafts of standards and supporting materials in order to provide feedback to shape their final versions, as well as engage a growing community of more than 750 organizations united to improve payment security worldwide.
Irdeto will also have the opportunity to recommend new initiatives for consideration to the PCI Security Standards Council, participate in exclusive webinars and question and answer sessions with Council representatives, and review and discuss new versions of the PCI Security Standards while sharing cross-sector experiences and best practices at the annual Community Meetings.
"In an era of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity's best protection against network security threats and data breaches," said Stephen W. Orfei, General Manager of the PCI Security Standards Council. "By joining as a Participating Organization, Irdeto demonstrates they are playing an active part in mitigating the threats and improving the security of the payment chain globally by driving the security standards to higher levels of adoption and strength."
"The Payments & Banking industry is experiencing digital disruption as FinTech organizations and regulatory bodies continue to drive innovation in the space," said David W. Jones, Global Head of Payments and Banking, Irdeto. "While this digital disruption is key to meeting consumer demand for new and innovative financial services and solutions, it also introduces multiple security vulnerabilities on the client-side. Hackers actively exploit these holes in security to execute cyberattacks aimed at stealing both financial assets and personal customer information. As a result, banks and payment service providers (PSPs) must address all vulnerabilities by implementing a robust security strategy to provide consumers with a convenient and safe digital shopping and banking experience."
Cloakware for Payments & Banking by Irdeto helps banks and PSPs capitalize on digital disruption by taking security to the next level, enabling new services and accelerating innovation. Irdeto's unique solutions for Payments & Banking help financial institutions prevent Man-in-the-Middle attacks and mitigate tampering-based attacks, completely in-line with PCI and PSD2 security standards.
About the PCI Security Standards Council
The [PCI Security Standards Council] is a global forum that is responsible for the development, management, education, and awareness of the PCI Data Security Standard ([PCI DSS]) and other standards that increase payment data security. Founded in 2006 by the major payment card brands American Express, Discover, JCB International, MasterCard and Visa Inc., the Council has 750 Participating Organizations representing merchants, banks, processors and vendors worldwide.
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