August 3, 2005
Shift4 to Sponsor Inaugural S.A.F.E. Transaction Security Summit
Las Vegas, NV, August 3, 2005 – Are you S.A.F.E. – Secure Against Fraud Electronically? Join presenters from the card associations, processors, banks, security auditing firms, corporate law firms, leading forensic experts and more at the Transaction Security Summit, September 28 & 29 in Las Vegas , Nevada and discover first hand how to obtain, maintain and certify the security of your payment process.
With the rise in reporting on credit card data theft, increasing financial fines and the approaching (and in some cases past) deadlines for compliance, the security of transaction processing has never been more important. That is why Shift4 is sponsoring this year’s Transaction Security Summit, with two distinct and detailed tracks, one for merchants and one for payment applications (point-of-sale and property management systems).
Merchant PCI DSS Track
The Merchant Track centers on the latest Payment Card Industry Data Security Standards (PCI DSS). PCI DSS is the Card Associations’ new universal security standard for merchants in all industries. Where as previously there was a standard for each organization – Visa’s CISP, MasterCard’s SDP, American Express’s DSOP, etc. – now there is one common standard and one common certification process.
According to Visa’s website, any merchant who processes more than 20,000 transactions annually (that is less than an average of fifty five transactions a day) is required to be certified to these standards by June 30, 2005. Unfortunately, less than 10% of merchants have completed the certification process. The reason, for many, is confusion over the guidelines – What is the certification process? Who do I need to contact? What will it cost? How do I prepare? What are they looking for? How can I remedy a problem? It is these questions that the Transaction Security Summit is designed to answer in detail by bringing in the industry’s leading experts on security.
Payment Application PABP Track
The Payment Application Track will focus on the Payment Application Best Practice (PABP) guidelines. PABP was developed by Visa to address security and the risks associated with varying payment applications (point-of-sale or property management systems). To be considered secure, these applications must not retain full magnetic stripe data or CVV2 data and must support a merchant’s ability to comply with PCI DSS requirements.
The card associations do not currently require the payment applications to certify compliance with the PABP standards. However, POS and PMS systems are being pressured by merchants, who need the systems to comply with PABP regulations in order for the merchant to pass their own certification. POS/PMS companies are also being pressured by processors, who are requiring payment applications to validate their compliance with PABP in order to maintain their certification to the processors and continue to be able to send transactions from their merchants to these processors for authorization and settlement. The industry’s largest processor is requiring validation by October 1, 2005. The summit will delve into the specifics of the PABP regulations and the in-depth assessment process required for validation.
“The acronyms alone can be confusing. We really wanted to get all the resources, all the information on security in one place so that attendees can get real, immediate and accurate answers. We felt we’ve done that with the Transaction Security Summit,” stated J. David Oder, President & CEO of Shift4 Corporation. “Shift4 was the first payment gateway of our kind to be certified compliant with the card association regulations and we want to help our merchants and POS partners reach this same level of security with the minimum amount of resources required.”
The Transaction Security Summit will be held at the beautiful JW Marriott Las Vegas, located on 50 acres of lushly landscaped grounds 15 minutes from the Las Vegas Strip. Sessions will run all day on September 28 & 29 and will be led by a variety of industry experts from some of the most recognized names in the credit card industry. More details about the event and online registration forms can be found at www.shift4.com or by calling (702) 597-2480, ext. 3439.
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.