News & Events
January 2007
Payment Card Industry (PCI) Data Security Standard (DSS)
Overview
With the increasing use of credit cards for Internet payments, Visa, Mastercard and other payment card schemes have joined forces and developed a global industry standard for the secure management of credit card information.
Known as the Payment Card Industry (PCI) Data Security Standard (DSS), it addresses mitigating the risk of Internet fraud associated with compromised credit card account information.
Consumer Concerns
As part of a global research program sponsored by Visa, it was found that the Number 1 concern among consumers worldwide is the loss or theft of personal and financial information (64%).
This surpasses other concerns such as terrorism (58%), job loss (57%), disease epidemics (55%) and natural disasters (46%).
CommSecure's Commitment
CommSecure is committed to the PCI DSS standard and is actively engaged in an ongoing implementation program in conjunction with its sponsoring banks and credit card partners.
Bankcard Scheme Closure
The Bankcard Association of Australia announced earlier in the year that its Member banks will progressively withdraw their Bankcard credit cards from the Australian market.
Under an extended withdrawal strategy, Bankcard credit cards will be phased out over the course of 2006 and will continue to be accepted by retailers until the end of 2006.
Accordingly, CommSecure has terminated the provisioning of Bankcard processing on 1st January 2007. The effective change will be the removal of Bankcard as an acceptable credit card type from our Payments gateway. We have already notified all our clients and assisted those that required help with the necessary changes.