Power2Process Validates PCI DSS compliance
Pembroke Pines, Fla (February 15, 2008) -- Power2Process, a financial transactions processor and global provider of innovative prepaid solutions, has announced compliance with the Payment Card Industry Data Security Standard (PCI DSS). Trustwave, a leading provider of information security and compliance management solutions to businesses and organizations throughout the world, performed the PCI DSS compliance validation.
PCI DSS is the payment card industry security requirement for entities that process, transmit or store cardholder data, and has been endorsed by all the major card brands – Visa Inc., MasterCard Worldwide, Discover Network, American Express and JCB. Under the PCI DSS, payment service provider compliance requirements are segmented into three levels based on the number of transactions processed and/or transmitted annually. The multi-faceted security standard also includes requirements for security management, policies, procedures, network architecture, software design, and other critical protective measures.
To obtain PCI DSS compliance, Power2Process had to meet the stringent security requirements of the credit card brands, submitting to a rigorous review of its information security policies, procedures and IT environment, which include the following:
Compliance Validation Services: Remote and on-site data security and compliance management solutions to complete the PCI validation process, address any discovered vulnerabilities and achieve and maintain PCI compliance.
Vulnerability Scanning: A remote scan of a merchant’s transaction network to detect weaknesses that could be exploited by hackers or unauthorized third-parties.
Penetration Testing: Ethical “hacking” of an IT environment
Remediation Recommendations: A Compliance Report that includes data gathered from the Self-assessment Questionnaire and vulnerability scan, and outlines actions required to address any vulnerabilities
On-Site Assessment: Required by PCI DSS regulations, a yearly on-site assessment of the IT environment
Report on Compliance (ROC): Submitted to MasterCard to benchmark Power2Process with the PCI DSS.
To view the PCI DSS compliance for Power2Process, please visit MasterCard’s Web site
Joseph Seroussi, Power2Process President, comments, “Compliance with the PCI DSS ensures that Power2Process completes the set up of its processing operation to become a leading contender within the processing and payments sector, globally. We are now able to service our clients with our solid platform, proactively protecting consumer data and effectively mitigating the risk of account compromise and fraud.”
“Power2Process has taken the necessary steps to adhere to an industry standard that helps protect the personal information of their customers,” says Robert J. McCullen, chairman and CEO of Trustwave. “By complying with the PCI DSS, Power2Process has positioned themselves as industry leaders.”
Founded in 2006, Power2Process is an emerging financial transactions processor with main offices and operation centers in Florida, US and is directly networked with overseas processors and financial institutions. The Power2Process platform and software are uniquely capable of providing the industry’s most robust prepaid programs enabling its clients and business partners to deliver unique solutions for banked and unbanked customers. Some of the most remarkable features Power2Process technology and networking offer the unbanked market is the facilitation of low cost money remittance, international payments together with the capability of access to these services through the use of mobile devices. For more information, visit www.power2process.com.
Trustwave is a global provider of information security and compliance management solutions to businesses and the public sector. The company has provided service to more than 30,000 organizations throughout the world including banks, merchants, service providers and software developers that are required to validate compliance with industry best practices for safeguarding information endorsed by American Express, Discover, MasterCard Worldwide, Visa International and Visa USA. Trustwave is a leading certificate authority with thousands of secure sockets layer (SSL) certificates issued. Trustwave is headquartered in Chicago with offices throughout North America, Europe, Africa, Asia, and Australia.