Leading payment specialists, Thyron Systems Ltd, today announced that its range of MPT600 mobile payment terminals have received PCI PTS Secure Reading and Exchange Data (SRED) Approval.
Significantly, SRED Approval underlines Thyron's commitment to security as the MPT600 is the world's first PCI PTS 2.x certified terminal to receive the highest current payments standards designed to protect cardholder data.
On the 7th March the UK Cards Association released a press statement identifying that Card Fraud losses in the UK fell by 7% in 2011, a 3 year reduction of nearly 45%. Losses are at their lowest levels since 2000 and this positive trend is a result of the industry's effort to deter, detect and combat fraudsters. A significant factor in this success has been the universal deployment of Chip and PIN technology and the wider roll out of Chip and PIN abroad.
'Thyron Systems has consistently championed payment innovation & security. In a market where the security bar needs to remain high at all times this SRED Approval supports our commitment to continually improve security protection within industry mobile payment solutions' comments Liam Madden, Managing Director at Thyron. 'Mobile payments is a fast moving dynamic market with new technologies being introduced almost daily and whilst we applaud and welcome innovation, it is critical for security that cardholder data is not seen to be at risk or compromised.'
The SRED set of PCI requirements is one of the evaluation modules of PCI PTS 3.1. It builds on existing requirements for increased security and expands the scope of the PCI PTS compliance by incorporating three new evaluation modules. The three modules call for open protocols, integration and secure reading and exchange of data. SRED provides a vital first step towards point-to-point encryption (P2PE) by enabling cardholder data to be secured and protected after it is read by a PCI PTS device.