| HOUSTON -- (BUSINESS WIRE) -- Paymetric, a
leading innovator of electronic payments solutions, announced today that its XiPay(TM) 2.9
payment processing software has achieved validation for Payment Applications Best
Practices (PABP) under Visa's Cardholder Information Security Program (CISP) after a
review of the application by independent auditor K3DES LLC, a PCI qualified security
assessor based in Houston.
"We were pleased to work with Paymetric to validate
that its software is in compliance with PABP requirements," said Jim Richardson,
president of K3DES. "PABP validation is a critical step for any payment application
vendor to undertake. It sets the standard in the payment card industry for minimizing the
potential for data security breaches and mitigating the risk of cardholder data
compromise."
Today organizations face increasing pressure to protect and
guard sensitive customer information. Any company that stores or transmits cardholder data
is a potential target for a security breach. The risk of data theft is an enormous
liability for any organization because it can result in the loss of public confidence and
cause the organization to incur fines levied by the credit card associations.
Visa's CISP PABP validation is considered to be the
industry standard for the validation of the data security of payment applications. It is
aimed at assessing the integrity of payment application security.
"XiPay is designed and written in accordance with the
highest standards in payment card security," said Ariel Mendiola, Paymetric
co-founder and security officer. "It conforms to industry-driven best practices
designed to protect sensitive payment card information from being compromised. Our PABP
certification demonstrates to our customers our long-standing commitment to payment card
security."
The PABP certification process mandates a rigorous and
stringent third-party assessment of payment application security standards. It defines
industry best practices for the storage and encryption of cardholder data by payment
software applications like XiPay.
XiPay is a payment processing software that manages,
protects and streamlines payment card transactions across a variety of enterprise
applications including ERP systems (most notably SAP), web stores, call centers and legacy
applications.
For more information about Visa's PABP, go to www.visa.com/cisp.
About Paymetric, Inc.
Paymetric, Inc. provides Enterprise Payment Solutions that
enable companies to improve working capital management, reduce operating costs and risks,
and expand and protect revenues. Paymetric streamlines enterprise payment processes within
the financial supply chain by embedding card payment and acceptance capabilities into
existing business processes and systems. Paymetric is an Austin Ventures portfolio
company, an award-winning SAP Software Partner and an SAP Pinnacle award recipient. Visit
www.paymetric.com for additional information.
Contact: Paymetric, Inc., Houston VP Marketing Tim
Girgenti, 713-895-2000 tgirgenti@paymetric.com |
