Princeton Softech Joins the Payment Card Industry (PCI) Strategic Vendor Alliance
Princeton Softech has announced that it is among the first 24 companies to join the Payment Card Industry (PCI) Strategic Vendor Alliance (SVA). The PCI SVA was founded by a group of data security firms, including ConfigureSoft, Cyber-Ark, Modulo Security, Proginet, Protegrity, Reflex Security and Safe-Net. The alliance was formed to provide the best in technology solutions and services to retailers, e?commerce companies, financial institutions, payment processors, POS vendors and other organisations that must protect consumer privacy to achieve compliance with the PCI Data Security Standard (DSS). “Every instance of data in an organisation represents a point of vulnerability, and thieves look for the simplest points of access, such as the development, testing and training environments that are often neglected from a security perspective. In fact, more than 70% of data breaches occur internally,” said Jim Lee, vice president of product line management at Princeton Softech. Initiated by MasterCard International and Visa in January 2005, the PCI DSS is a set of 12 multi-faceted regulations that represent a unified industry standard for protecting cardholder data that is stored, transmitted or processed. All members, merchants and service providers that store, process or transmit cardholder information must implement the PCI DSS. Fines for non-compliance can range up to US$500,000 per incident.