Cryptomathic

Cryptomathic Joins PCI Security Standards Council as a Participating Organization

March 1, 2024         By: Asif Imtiaz

Cryptomathic have joined the PCI Security Standards Council as their new Participating Organization.

Cryptomathic, the company best known for providing encryption solution is also the only external element to the MasterCard Mobile Over-the-Air Provisioning Service.

Cryptomathic announced in a press release that they will work closely with the PCI Security Standards Council as a Participating Organization and try to improve payment data security on a global scale and help in further developing the PCI Security Standards.

The press release also mentioned that Cryptomathic will focus on various security systems, including Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS).

As a Participating Organization, Cryptomathic will enjoy the privilege of adding its voice to the standard setting process, said the company. Also, they will “have the opportunity to recommend new initiatives for consideration to the PCI Security Standards Council,” mentioned the press release.

Commenting on joining the PCI Security Standards Council, the Director of Product Management at Cryptomathic, PCI Security Standards Council, noted that “through greater participation in the Council, we look forward to contributing our expertise in designing secure software solutions more widely, to render PCI a business enabler, rather than a simple compliance exercise.”

“Securing financial data is central to our solution portfolio and we are most pleased to now take an active role in the PCI Council and help set new industry standards,” he added.

PCI Security Standards is used by most of the leading card service providers such as American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc.

Under the guidelines provided by the PCI Security Standards, merchants and service providers need to store, process and transmit customer payment card information in a way that strictly follows security controls and processes set by the council in order to protect personal data.