Home > News > Visa Sets Software Security Deadlines • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

Visa Sets Software Security Deadlines

Visa Sets Software Security Deadlines
Get XBIZ News
Sep 4, 2009 1:00 PM PDT    Text size: 
SAN FRANCISCO — Visa has announced global requirements for financial institutions to ensure merchant customers and agents use secure payment applications.

With the requirements, payment application providers and service providers must not store prohibited data elements and adhere to the Payment Card Industry (PCI) Payment Application Data.

A deadline has been set for July 1, 2010, for U.S. and Canada Visa acquirers to ensure Data Security Standard (DSS) compliant applications are being used.

In Asia Pacific, Central and Eastern Europe, Middle East and Africa, Latin America and the Caribbean Visa acquirers the deadlines for Visa acquires also is July 1, 2010. By July 2012, however, those acquirers must ensure existing merchants and agents in the Visa network use DSS compliant applications.

In a press release, Visa said that vulnerable payment applications are a major cause of credit card fraud.

"Criminals are targeting certain versions of software known to have security vulnerabilities," said Eduardo Perez, Visa’s head of global data security. "It's essential that every business that handles payment card information adhere to the highest data protection standards to protect the security and privacy of their customers' financial information."

The company also said it recommends merchant and agents ask their payment application vendors, resellers or system integrators to confirm that software versions used don’t store magnetic strip data, PIN or security codes.

As a payment service provider CCBill is responsible for maintaining a Level 1 PCI DSS compliance — which is the highest level of compliance.

“With our PCI DSS compliance, we are responsible for an annual onsite audit by a qualified security assessor,” CCBill Vice President of Marketing Laurie Biviano told XBIZ. “During these audits, our auditing firm inspects a range of security initiatives in our systems, process flow, resource pools, infrastructure and facilities.

“CCBill follows a methodology that acknowledges the Visa protocols and the PCI DSS as a foundation to our data security. But to achieve the higher levels of security that we [and our clients] demand of ourselves, we take a more holistic approach and incorporate security into all of our processes, assets and resources, instead of focusing on a ‘checklist.’ Thus, the PCI DSS and Visa protocols are good starting points and an integral part of any security policy.

Internet payment services provider CommerceGate renewed its certification as a Level 1 PCI-DSS compliant merchant in late July.

"We are very proud to continue to operate at the highest level of PCI compliance,” CommerceGate CEO Bjorn Skarlen said in an earlier report. “It makes perfect business sense to us, as we strive to offer the safest and best solutions on the market. Our certification demonstrates our dedication to maximum security and anti-fraud measures, and it is good to be able to show that our hard work is really paying off."

CommereGate also offers 3D Secure, which is used as an optional added layer of security for online credit and debit card transactions. It was developed by Visa to improve the security of Internet payments and is offered to customers as the Verified by Visa service. MasterCard offers a similar service called MasterCard SecureCode.

"The more trust we can inspire in the end user, the better," Skarlen said. "Knowing that their credit card information and money are safe means that customers are more confident signing up and also likely to spend more money per transaction, which in turn improves the profits of our clients."

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

BUSINESS ANALYSIS

Retailers Talk BDSM Shopping Trends

These days, BDSM is so mainstream that it is being depicted in everything from beer commercials to telenovelas. Floggers, paddles, ball gags and handcuffs were once considered the bad boys of adult retail;... More »

Specialty Manufacturers Talk Popularity of Handcrafted BDSM Gear

The proverbial cat is out of the bag for fetishes — and the dog, and the dragon, and a whole other slew of kink accessories that put blindfolds and handcuffs to shame. “Fifty Shades”... More »

Mainstreaming of BDSM Broadens Category, Consumer Reach

It’s been just more than 30 years since Kim Basinger and Mickey Rourke lit the silver screen on fire in “9 ½ Weeks” with the film’s underlying themes of BDSM. And more than... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ World magazine, the industry's leading e-commerce trade publication, delivering in-depth coverage of the online, mobile and ancillary digital markets.

UPCOMING EVENTS

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida

XShow 18+ 2017

Jun 01 - Jun 03
Moscow, Russia

Cam Summit

Jun 02 - Jun 04
Lloret de Mar, Spain
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!