MIAMI, Jan. 19, 2017 /PRNewswire/ -- VTEX, a global digital commerce platform servicing more than 2,000 companies worldwide, announced today that it has joined the PCI Security Standards Council as a new Participating Organization. VTEX will work with the Council to achieve and improve payment data security worldwide through the ongoing development of the PCI Security Standards, including the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS).
Endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., the PCI Security Standards require merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data protection – not just once a year, but as part of a business-as-usual security posture. To enhance payment data security globally while embracing new technologies as they are developed, the Council relies on involvement of those across the payments processing chain, from merchants and service providers to payment device manufacturers and software developers, financial institutions and processors.
As a Participating Organization, VTEX adds its voice to the standards setting process and will receive previews of drafts of standards and supporting materials in order to provide feedback. This is of great importance because it will shape their final versions, as well as engage a growing community of more than 750 organizations united to improve payment security worldwide.
VTEX will also have the opportunity to recommend new initiatives for consideration to the PCI Security Standards Council, participate in exclusive webinars and question and answer sessions with Council representatives, as well as review and discuss new versions of the PCI Security Standards while sharing cross-sector experiences and best practices at the annual Community Meetings.
"In an era of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity's best protection against network security threats and data breaches," said Stephen W. Orfei, General Manager of the PCI Security Standards Council. "By joining as a Participating Organization, VTEX demonstrates they are playing an active part in mitigating the threats and improving the security of the payment chain globally by driving the security standards to higher levels of adoption and strength."
"When developing SmartCheckout, PCI DSS certification was a mandatory requirement. But it ended up being more important than just the product. The maturity level we reached in the process of becoming compliant helped in defining us as a company," said Andre Uchoa, Chief Security Officer and Enterprise Architect at VTEX. "Today as a global digital commerce solution, joining PCI Security Standards Council as a Participant Organization presents us with a great opportunity to contribute to the improvement of the standards in parallel with the many great companies who are also part of the program."
About the PCI Security Standards Council
The PCI Security Standards Council is a global forum that is responsible for the development, management, education, and awareness of the PCI Data Security Standard (PCI DSS) and other standards that increase payment data security. Founded in 2006 by the major payment card brands American Express, Discover, JCB International, MasterCard and Visa Inc., the Council has 750 Participating Organizations representing merchants, banks, processors and vendors worldwide. To learn more about playing a part in securing payment card data globally, please visit: www.pcisecuritystandards.org.
VTEX is the only True Cloud Commerce platform in the digital commerce market with an auto-scaling elastic cloud infrastructure that leads to higher conversion rates, stronger customer loyalty and lower TCO. Utilizing the exclusive patent-pending SmartCheckout™ technology - a secure, intuitive and easy password-free process, VTEX presents an excellent option for digital commerce. Companies running the VTEX platform have seen a 54% increase in conversion rates, and a significantly lower rate of cart abandonment. Since 2000, VTEX's pioneering R&D teams have provided customers all over the world with a comprehensive, fully-adaptable, omni-channel solution that keeps pace with ever-changing customer expectations. VTEX has been recognized for its innovative approach to handling digital commerce by Gartner, Inc. and Forrester Research and is trusted by over 1,000 clients worldwide including Walmart, Danone, Whirlpool, Electrolux, Pandora, Avon and Lego.
PCI Security Standards Council
Laura K Johnson, Lindsay Goodspeed
VTEX Cloud Commerce
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SOURCE VTEX True Cloud Commerce