BancNet has been certified again to be compliant with the global Payment Card Industry Data Security Standard (PCI DSS). The compliance certificate was issued recently by Control Case, LLC, a U.S.-based Qualified Security Assessor Company (QSAC) certified by the PCI Security Standards Council, an independent body that administers and manages PCI DSS.<\/p>\n
PCI DSS is used by all major card brands as the common security standard for their compliance programs. These brands are VISA, MasterCard, American Express, Discover, JCB and NYCE. All organizations or merchants that accept, process, or transmit cardholder data of their customers must comply with PCI DSS. Cardholder data are all personally identifiable information associated with the cardholder such as bank account number, personal identification number (PIN), etc. The required policies and procedures, set in 2004, aim to achieve six goals: 1) to build and maintain a secure network, 2) to protect cardholder data, 3) to maintain a vulnerability management program, 4) to implement strong access measures, 5) to regularly monitor and test networks, and 6) to maintain an information security policy.<\/p>\n
BancNet president Ricardo R. Chua said, \u201cOur compliance with PCI DSS assures credit and debit cardholders of our member banks and of our partner international networks that their personal information that pass through the BancNet switch is protected from misuse.\u201d<\/p>\n
The PCI DSS assessment of BancNet covered payment processing through its electronic channels namely, the ATM, terminal at point of sale (POS) and online payment gateway (BancNet Online) and mobile banking. BancNet\u2019s clearing and settlement system was also evaluated and passed rigid tests. Both its main data center and back-up center were covered by the review.<\/p>\n
BancNet became the first multi-channel payment network in the local banking industry to be certified PCI DSS \u2013compliant in 2014 and remains to be the only certified PCIDSS-compliant multi-channel network in the country. The latest audit was based on version 3.1 of the standards which is higher than the version previously used.<\/p>\n
\u201cThe certificate of compliance attests to BancNet\u2019s adherence to global standards with regard to the processing, storage and transmission of cardholder data,\u201d BancNet EVP and general manager Aristeo P. Zafra, Jr. said.<\/p>\n
BancNet\u2019s cardholder base has grown rapidly through the years and has reached over 80 million. The network now has about 19,000 ATMs nationwide where cards of BancNet members and of its international partner brands can be used.<\/p>\n","protected":false},"excerpt":{"rendered":"
BancNet has been certified again to be compliant with the global Payment Card Industry Data Security Standard (PCI DSS). The compliance certificate was issued recently by Control Case, LLC, a U.S.-based Qualified Security Assessor Company (QSAC) certified by the PCI Security Standards Council, an independent body that administers and manages PCI DSS. PCI DSS is […]<\/p>\n","protected":false},"author":4,"featured_media":4177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\n