News

Transaction Wireless cloud-based digital gift card platform earns PCI Level 1 compliance

August 24, 2011

Transaction Wireless, a provider of digital gift card solutions, announced it has achieved Payment Card Industry (PCI) Level 1 Compliance. Transaction Wireless is one of the first digital gift card providers to meet the PCI Data Security Standard (DSS) v2.0, which is a part of the latest industry compliance requirements that also incorporate cloud-based platforms.

"At Transaction Wireless, we take tremendous pride in the security efforts we implement for our customers," said Doug Schneider, chief executive officer of Transaction Wireless. "While strong security processes have always formed a major cornerstone of our offering, we felt it was important to earn the highest official third-party certification. We believe industry standards play a fundamental role in ensuring the entire gift card ecosystem is protected. With our latest certification, our clients and their customers now have even more peace of mind."

Conducted by CompliancePoint, an independent auditor and Qualified Security Assessor (QSA), the PCI DSS Certification has become widely accepted as the standard for cardholder data security. Created in 2004, PCI DSS aims to optimize security for all credit and debit card transactions and serve as an actionable framework for developing iron-clad data security processes such as preventing, detecting, and reacting to security incidents. As part of being compliant, any organization that processes, stores or transmits cardholder information must revalidate their compliance annually.

"Although PCI focuses mainly on credit card data, Transaction Wireless treats all account data, including gift card account numbers, with the same security measures. In today's digital world, companies need to ensure their customer's data is not vulnerable to security breaches, and Transaction Wireless is well positioned to protect customer data," Schneider said.

Transaction Wireless said it is the first digital gifting platform to be certified on PCI DSS v2.0. The latest standard was created in order to provide greater clarity on requirements, better management of evolving threats, improve merchant flexibility and keep pace with recent changes in industry best practices.