ATLANTA and BEDFORD, Mass. (9/24/09)--First Data, a provider of electronic commerce and payment processing services, and RSA, the Security Division of EMC have partnered to provide a new service--First Data Secure Transaction Management (SM). With SM, merchants can secure payment card data and remove the data from their environment while allowing access when needed. SM is designed to reduce the cost and complexity of complying with the Payment Card Industry Data Security Standard (PCI DSS), the companies said in a release. Payment card data is encrypted when it is captured by the merchant's existing point-of-sale application and remains encrypted until it is delivered to First Data. The card number is replaced by a “token” value that cannot be linked back to the original card data, but otherwise behaves like a card number. “The increasing need for data protection and the growing complexity of PCI DSS compliance are driving merchants to evolve their business strategies for securing customers’ sensitive information,” said Robert Vamosi, security/risk and fraud analyst for Javelin Strategy & Research. “Organizations that can employ a layered approach to data security, one that capitalizes on the inherent advantages of encryption, tokenization and other technologies, will be well-positioned to protect card data and reduce the scope of PCI compliance.” “To comply with the PCI DSS and reduce risk, organizations need security controls built into their infrastructure, and not bolted on,” said Art Coviello, executive vice president, EMC Corp. and president, RSA. “Rather than addressing security risks by deploying disparate point controls throughout their infrastructure, First Data Secure Transaction Management provides organizations with a simplified and scalable solution that helps radically reduce management complexity and costs.”
ST. PETERSBURG, Fla., and SAN DIMAS, Calif. (9/24/09)--More than half of credit unions that have signed up for mobile banking with Financial Service Centers Cooperative (FSCC) and PSCU Financial Services have chosen to integrate the solution through FSCC’s Shared Branching Network. Another 20% of FSCC credit unions are showing interest in the mobile solution, they said. The interest is growing because of the integrated technologies at both FSCC and PSCU Financial Services. The platform appeals to consumers of all ages--especially young adults, said David J. Serlo, PSCU Financial Services president. The mobile banking solution can be downloaded in multiple formats, including Wireless Application Protocol and a downloadable application--Applet. The tool features real-time, on-demand access to checking, savings, credit card and other account information. FSCC is a credit union Shared Branching Network that provides more than 6,000 full-service deposit-taking locations in the U.S. and overseas. PSCU Financial Services is a credit union service organization that serves more than 1,300 financial institutions nationwide.