October 6, 2005
Over 150 People Attend the Inaugural Transaction Security Summit in Las Vegas
Las Vegas, NV, October 6, 2005 – What would bring together three of the Card Associations, four of the leading security assessment firms, four processors, twenty POS and PMS application developers, and 100 merchants from all industries and of all sizes? In a word: security.
“It is always an amazing thing when you can get a group of people together who share the same concerns, the same beliefs as you. I really believe that this is what we did with the Transaction Security Summit,” stated J. David Oder, President & CEO, Shift4 Corporation. “From the speakers – truly the biggest names in credit card security – to the attendees, everyone who attended did so because they care about the security of their payment processing, their customers’ data and of their own reputation in the marketplace.”
The Transaction Security Summit, which was held in Las Vegas, September 28-29, and sponsored by Shift4, brought together leading experts from across the credit card security industry. From the very first session by MasterCard, which introduced the regulations and explained their evolutions, to the very last session, a round table discussion featuring American Express, Visa, processors and security firms, the entire two-day seminar was focused on providing merchants and payment applications the detailed information they need about the latest security requirements.
“The difference between this event and others I have attended was foremost the level of detail available to attendees. They weren’t just given the high level picture; they were able to delve into the details of security, to ask questions that related directly to their individual organization and certification process. It was like hours of free consulting from some of the most experienced names in credit card security, including several of us who were directly involved in the creation of these processes and procedures,” stated D.J. Vogel, Managing Partner, 403 Labs, LLC.
The summit featured two tracks. The first focused on the Payment Card Industry Data Security Standards (PCI DSS) and how they affect merchants. One of the most important things stressed in this track by all of the card associations in attendance was that compliance with these regulations is required by all merchants.
“Many merchants get hung up on what level they fall into according to the regulations, thinking that if they fall into Level Four, where certification isn’t required, they are safe. What they don’t realize is that their compliance with these requirements is still required. If they aren’t in compliance and there is any breach, they will be subject to the same fines and penalties as merchants in other levels,” remarked J.D. Oder II, CTO, Shift4 Corporation. “What the certification process provides these merchants then is proof of their compliance. And with annual network scans costing under $500, it seems to me certification is well worth the cost, considering the safe harbor and peace of mind it can bring.”
The second track of the summit focused on payment application developers who create point-of-sale and property management systems. This track provided an overview of what their customers were facing in terms of PCI DSS and how that would affect what their customers were asking of them and their systems, as well as a detailed look at the new Payment Application Best Practices (PABP) security guidelines, with which many processors are requiring validation.
“Credit card regulations are evolving so quickly and we rely on Shift4 to help keep us abreast of these changes and how they affect us and our merchants. The summit was right in line with what we have come to expect from Shift4, informative, well run and helpful. Not only did they bring together leading experts on the regulations, but they provided us with the tools we need to protect our most important asset – our customers,” stated Beverly McCabe, CEO, INNfinity Hospitality Systems.
Overall, the event was a great success, receiving rave reviews from attendees and speakers alike.
“Shift4 continues to prove that they are thought leaders and way ahead of the pack. The event was great – the content was applicable and I believe the attendees really benefited from being there,” remarked Bill Simpson, Manager of Strategic Alliances, Pedestal Software.
“Visa and MasterCard joined forces in January 2005, to begin a massive education and certification program on the need for improved credit card processing security. And in Las Vegas last week, Shift4 Corporation made a substantial contribution to that effort by inviting leaders on all sides of the credit-card processing industry to attend its two-day security seminar,” stated Chris Lake-Smith, Director of IS, Camp Snoopy. “Shift4’s S.A.F.E. seminar, which attracted some of the most prominent names in the Internet security business, produced much thought-provoking discussion, but the underlying message is clear: security, or more specifically, the lack of security, is an enormous problem that affects everyone and it is up to those of us in business to make fixing it a priority. It will require a huge effort, and I trust Shift4 will continue to lead the way.”
About Shift4 Corporation
Shift4, a leading developer of financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices and e-commerce markets. Through connectivity to most major processors, DOLLARS ON THE NET provides both high speed and low cost authorizations and settlements for credit, debit, check, private label and gift card transactions. DOLLARS ON THE NET also includes the ability to access, review and edit transactions prior to settlement, as well as a searchable, 24-month archive of transactions for reporting and charge back defense. For more information, contact Shift4 at (702) 597-2480 or visit Shift4 online at www.shift4.com.