Africa’s integrated payments and transaction switching company Interswitch today announced it has joined the PCI Security Standards Council as a new Participating Organization.
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.
Interswitch in a statement said it 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).
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. 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, Interswitch 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 600 organizations united to improve payment security.
Interswitch 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, Interswitch 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.”
Mitchell Elegbe, Group Managing Director of Interswitch said: “Interswitch is committed to ensuring our products and services meet the highest international security standards. The perception of Africa as a difficult place to do business is being challenged by companies such as Interswitch who are instituting international best practice security standards. We are playing our part by working with the international community to develop new standards and ensuring transactions in Africa are safe and secure.”
