" ITREALMS: ‘InterSwitch is PCIDSS compliant, fortifies card security’

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Wednesday, January 25, 2012

‘InterSwitch is PCIDSS compliant, fortifies card security’


Leading integrated payment and transaction processing company, InterSwitch Limited is Payment Card Industry Data Security Standard (PCIDSS) compliant, even as it fortifies its card security.

Managing Director, Interswitch, Mr. Mitchell Elegbe, discloses these in a press statement made 
available to ITRealms Online at the weekend, saying that the company through its “Super Switch” provides online, real-time transaction switching that enable businesses and individuals have access to their funds across the 23 banks in Nigeria and across a variety of payment channels such as Automated Teller Machines (ATMS), Point of Sale (PoS) terminals, mobile phones, kiosks, web and bank branches.

He said that card security standard in the country has been strengthened as Interswitch attained the PCIDSS certification for the second consecutive year, making it the only Nigerian and West African payment entity to be compliant consistently in two years.

He explained that with this certification, card users would continue to experience enhanced payment account data security.

PCIDSS certification, he said, represents a common set of security best practice that if adhered to would ensure the safe and secure handling of payment card data and transactions.

The requirements, according to him, ensure that the entities that process, store or transmit cardholders’ data meet and adhere to best global standards, which consist of maintaining a secure network for processing transactions; protection of cardholders and transaction data while in transit or at rest on the network; regular monitoring and testing of Information Technology (IT) infrastructure to name a few.

“We have demonstrated our commitment to raise the bar on transaction security by seeking and achieving certification based on the Payment Card Industry Security Standards Council (PCI SSC),” he said.

Enlightening further, Elegbe said that the PCISSC is a measure to provide a uniform security compliance programme for organisations, service providers and merchants that handle card data.

Stressing that such organisations could be in the financial, retail or IT sectors. 

He recalled that in 2010, Interswitch made success of the PCIDSS certification, which ranked the company among the group of over 1,000 service providers worldwide, with the same certificate and is the first company in the West African region to become a participating organisation of the PCI SSC.

He noted that Interswitch achieved the PCI SSC status after fulfilling the council’s stringent requirements.

“Data security is a critical part of the switching business. In order to maintain and reinforce the same globally acceptable standards, we have gone to great length and a rigorous process to ensure we retain the certification this year,” he said.

Remmy Nweke

ITREALMS Online ... delivering news for ICT4D Short URLs: goo.gl, mcaf.ee, cli.gs

1 comment:

  1. PCI DSS has set a standard for every card company to ensure safety and security for the card holders. This will prevent fraud and other malicious activities to the credit cards.

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