Tag Archives: PCI

FTC Requests Comments on the Safeguards Rule

The Federal Trade Commission (“FTC” or “Commission”) is soliciting public comments on its Standards for Safeguarding Customer Information (“Safeguards Rule”) as part of the systematic review of all FTC rules and guides on a 10-year schedule.  The Safeguards Rule was promulgated by the Commission pursuant to the Gramm-Leach-Bliley Act’s (“GLBA”) directive for federal agencies to … Continue Reading

P.F. Chang’s Ruling Highlights Potential Pitfalls of Cyber Insurance

Data breaches suffered by retailers and other businesses that handle payment cards can result in substantial assessments by card brands such as MasterCard and Visa. Retailers typically do not process payment card transactions directly with the banks that issue their customers’ cards. Instead, they contract with an intermediary—called an acquiring or servicing bank—to process their … Continue Reading

PCI Council Releases PCI-DSS Cloud Computing Guidelines

On February 7, 2013, the Payment Card Industry (PCI) council released a supplement to the payment card industry data security standards (PCI-DSS) on the use of cloud technologies and considerations for maintaining PCI DSS controls in cloud environments.  The supplement is intended for merchants, service providers, assessors, and other entities in evaluating the use of cloud … Continue Reading

PCI Council Issues Guidance for Mobile Payment Acceptance

Yesterday, the Payment Card Industry Council issued guidance for merchants using smartphones or tablets to accept payments from customers.  The guidance follows up on the PCI Council Chairman’s pledge in February, as reported in this blog, to make mobile payments a top priority.  Payment card readers that can be attached to a smartphone or tablet have become … Continue Reading

New PCI Council Chairman Establishes Mobile Payments as Top Priority for 2012

Newly-appointed chairman of the PCI Security Standards Council, Michael Mitchell, recently reiterated the importance of data security for mobile payments technology and the Council’s priority in studying and advising the industry on such technology.  Chairman Mitchell pointed out the sharp increase in mobile payments but also a lag in security technology protecting such payments.  “The adoption of … Continue Reading

PCI Council Opens Feedback Period for PCI-DSS and PA-DSS Versions 2.0

On Tuesday, the Payment Card Industry Security Standards Council announced that it was opening the formal feedback period for versions 2.0 of the Payment Card Industry Data Security Standard (“PCI-DSS”) and Payment Application Data Security Standard (“PA-DSS”), which were issued in October 2010 and will become effective exclusively when versions 1.2.1 are officially retired on December … Continue Reading

Verizon Report Concludes that Industry’s Compliance with PCI Standards Remains Low

In a report released on September 28, 2011, Verizon concluded that only 21 percent of organizations subject to the payment card industry’s data security standards (PCI-DSS) were fully compliant with PCI-DSS.  Verizon’s prior report found that 22 percent of organizations were fully compliant with PCI-DSS.  The PCI-DSS consist of 12 requirements relating to an organization’s information … Continue Reading

PCI Point-to-Point Encryption Standards May Simplify Compliance

Earlier this month, the Payment Card Industry Council (“PCI”) unveiled the first set of point-to-point encryption (“P2PE”) standards designed for providers of P2PE hardware-based encryption and decryption solutions.  P2PE providers develop for merchants point-of-sale hardware such as payment card readers and electronic cash registers that completely encrypt payment card data from the point the card … Continue Reading
LexBlog