Press Release - For Immediate Release
Electronic Payments (EPI) Completes PCI Certification
Calverton, NY – July 10, 2008 – One of the fastest growing and most innovative payment processors, Electronic Payments, Inc. (EPI) has announced their achievement in receiving the Payment Card Industry (PCI) certification from its qualified PCI assessor. It is now in a class of the country’s most stable and secure payment processors.
While EPI was not required to achieve PCI approval, EPI’s commitment to securing cardholder information was paramount in the decision to move forward with PCI DSS compliance and certification.
Michael Nardy, founder and CEO of Electronic Payments, commented, “I think for any ISO or processor to be a leader in the industry, you must achieve PCI certification. In an environment of card data breaches and the potential of staggering fines for non-compliance, our decision to follow the PCI DSS standards is just another part of our commitment to our merchants and sales partners.”
According to the Visa U.S.A. website (www.visa.com/cisp), “… Although there may not be a direct contractual relationship between merchant service providers and acquiring members, Visa members are responsible for any liability that may occur as a result of non-compliance.”
Mr. Nardy continues, “When our business is about mitigating risks on the merchant processing side, not being PCI compliant is a needless exposure that puts many companies’ financial stability on the line. We’ve seen far too many breaches accompanied by multi-million dollar fines not to take the PCI DSS standard and compliance very seriously. I’m proud that EPI’s leadership in the industry is further solidified by our compliance to this standard.”
The standard, now governed by the PCI Security Standards Council was originally formed by the primary payment brands of Visa, Inc., MasterCard Worldwide, JCB International, Discover Financial Services and American Express. Its mission is to develop and maintain a security standard that ensures merchants and processors maintain the security of their cardholder data and the integrity of the systems that store the same.
The PCI DSS certification will not only set EPI apart as a trusted payment processing partner, dedicated to the highest levels of security, but will allow it to continue to develop additional products for its merchant and ISO/MLS base.
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About Electronic Payments
With “Innovation through every transaction™”, Electronic Payments has distinguished itself as one of the fastest growing and highly regarded privately held payment and transaction processing companies in the United States. Electronic Payments currently serves businesses in all industry types and acquires new businesses through a network of agent banks, sales agents and independent sales offices (ISOs). Visit www.electronicpayments.com for additional information or visit www.bankcardprogram.com to learn more about our ISO and MLS programs.