Cryptomathic, a leading provider of crypto solutions, announced today that it has joined the PCI Security Standards Council as a new Participating Organisation.
Cryptomathic 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 the 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, Cryptomathic 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 700 organizations united to improve payment security worldwide.
Cryptomathic 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, Cryptomathic 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.”
Guillaume Forget, Director Product Management at Cryptomathic, comments: “Securing financial data is central to our solution portfolio and we are most pleased to now take an active role in the PCI Council and help set new industry standards. We have built our skills and knowledge in key management, crypto and EMV over many decades and have vast experience of helping financial organisations in their PCI implementation. Now, through greater participation in the Council, we look forward to contributing our expertise in designing secure software solutions more widely, to render PCI a business enabler, rather than a simple compliance exercise.”