World-leading payment fraud prevention and payment processing company Retail Decisions (ReD), announced today that it has joined the PCI Security Standards Council as a Participating Organization.
In addition to preventing payment fraud for its global clients, ReD will now be instrumental in helping to shape the standards for all online merchants, to enhance payment security. As a Participating Organization, ReD will work with the Council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards.
Carl Clump, CEO of ReD, said that the company welcomed the active role it would now take in the ongoing development of payment security standards.
"These standards are vital, and we're delighted to have the opportunity to shape their future direction," he said. "Every online business, from the largest corporation to the smallest internet store, has to be PCI compliant before they can safely accept card payments - so that consumers can be confident their personal information won't be stolen.
"Being on the council means that ReD will not only have an influential voice on where the PCI Security Council should go in the future, but also have an invaluable insider's view of where it is heading - and so be able to prepare well in advance."
Carl Clump added: "We now look forward to sharing our extensive experience to help the Council in its understanding of the many challenges facing online merchants who accept card payments."
The PCI DSS, endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., requires merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data integrity. There are twelve key requirements of PCI DSS level, and over two hundred twenty two sub-requirements.
As a Participating Organization, ReD will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards and become part of a growing community that includes more than 635 organizations. In an eraera of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity's best protection against data criminals. By joining as a Participating Organization, ReD is adding its voice to the process.
"The PCI Security Standards Council is committed to helping everyone involved in the payment chain protect consumer payment data," said Bob Russo, General Manager of the PCI Security Standards Council. "By participating in the standards setting process, ReD demonstrates they are playing an active part in this important end goal."