Recommended: System Errors? Click here to Fix your PC »
Today, there is a unified approach to security standards. Payment Card Industry DataSecurity Standard (PCI DSS) is a list of unified standards and requirements for theindustry. However, only 20% of the major industry-related companies are PCI DSScompliant. This is stimulated by mid-tier merchantsÂ' and service providersÂ'ignorance of the certificate though they are the most vulnerable objects of attacks.According to WordPressÂ' report, many payment industry players feel the standard isnot clear or is not being applied prudently to encourage complete adoption.
Anyhow, PCI DSS must be the most comprehensive solution  and positively the best atthis stage. Visa together with worldÂ's major payment systems strongly encouragespayment service providers, merchants and payment applications developers to pass thePCI DSS compliance certification in order to be able to guarantee high-levelsecurity to both their customers and partners.
Understanding the importance of security matter, TechnoPark Corp., an outsourcingsoftware development company, has released its mobile payment processing systemwhich meets all the standards provided by PCI DSS. The system  MPPS  enables usersto pay for goods and services using only their mobile phones, and provides a numberof additional functions like statistics, notifications, etc. (Detailed descriptionof MPPS is available on companyÂ's website). Laboratory testing assured the productÂ'scompliance, so it is about to be sent to Visa for certification.
PCI Data security standard was developed by Visa and MasterCard and accepted byother major players. It provides 12 basic standards aiming to stamp out debit andcredit card fraud, by introducing strict security standards for handling and keepingcardholder data. The six general principles of PCI DSS include the following: buildand maintain a secure network, protect cardholder data, maintain a vulnerabilitymanagement program, implement strong access control measures, regularly monitor andtest networks, maintain an information security policy.
In the article covering data security standards Joan Herbig, President and CEO ofCambia Security, a security policy enforcement provider, writes for CSO Magazine:"Embracing the PCI standard may sound like a big task, and you may wonder if itÂ'seven necessary for your business. However, before you fill up your dance card withother priorities, consider this: As of now, there is no known case of aPCI-compliant network being compromised."
For software developers Visa/MasterCard provides the PCI DSS Compliance PaymentApplication Certificate. Only 50 payment applications have been validated by today.On the intense and constantly growing market it sounds shocking. 50 is a tiny pieceof all available products.
Moreover, the up-to-date list includes only 1 payment application for cellularphones  the most fast-growing industryÂ's tenderfoot (A survey from Visa USA,reported in Bank Systems & Technology, shows that 61% of the respondents ages 25 to34 were interested in making purchases via their cellphones). Still the adoption ofPCI Data security standard may dramatically intensify anti-fraud efforts.
Thus, the major payment systems recommend choosing PCI DSS compliant services andproducts. It must be a cue for US and European companies as well as worldwideoutsourcing software development firms striving to offer high-quality products. Inlight of this, the introduction of TechnoPark Corp.Â's MPPS software and itscompliance validation, scheduled for September 2006, is a piece of important shifttowards the consolidation of high standards of payment card industry.
TechnoPark Corp. is an outsourcing software development and web design company withhead office based in the USA, Florida and technical software center based inUkraine, Dnepropetrovsk. Financial applications development is one of the companyÂ'sfocus operation areas. Details about recently released mobile payment system MPPSare available at http://www.technoparkcorp.com/ content/view/31/40/lang,en/.
