ST. PETERSBURG, Fla. — The organization that developed and updated the so-called card data security standards for the credit and debit card industries will now have a credit union voice–PSCU Financial Services. PSCU is the payment processing CUSO with over 500 credit union owners who use the First Data Corp. card platform.
The move means a credit union owned organization is represented on the PCI Security Standards Council, a key card data security organization affecting both the debit and credit card industries. The PCI Data Security Standard is meant to provide the most up to date set of procedures and technology to keep card data safe from compromise.
While other processing firms such as Fidelity National Information Systems are members, along with major retailers, PSCU said that it believes it is the only CUSO that is a member.
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The PCI DSS, which the Council develops and works upon, is endorsed by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa Inc. It requires merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data integrity.
As a participating organization, PSCU Financial Services will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards and become part of a growing community that now includes more than 320 organizations, PSCU said.
"The PCI Security Standards Council is committed to helping everyone involved in the payment chain protect consumer payment data," said Bob Russo, general manager of the PCI Security Standards Council. "By participating in the standards-setting process, PSCU Financial Services demonstrates they are playing an active part in this important goal."
"Our company, which was certified as PCI compliant in early 2007, is fully in support of the PCI Security Standard Council's agenda to ensure data integrity. We are eager to represent the credit union industry by working with other financial services providers to protect consumer data," said David J. Serlo, president and CEO, PSCU Financial Services.
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