IP Solutions 5th Annual PCI DSS Executive Breakfast
Sydney – 11 March 2014 – IP Solutions is pleased to announce our annual PCI DSS Executive breakfast to be held in Melbourne (Thursday 29th May 2014), Sydney (Thursday 5th June 2014) and Brisbane (Thursday 12th June 2014).
The event will focus on educating merchants on the challenges associated with achieving & maintaining PCI DSS compliance, highlighting practical insights & solutions. For additional information or to register for an event please click here.
IP Solutions 4th Annual PCI DSS Executive Breakfast
Sydney – 10 May 2013 – Thank you to all of the guests who attended our recent PCI DSS Executive Breakfast in Sydney and Melbourne. The event was a huge success with attendees from numerous Tier 1 and Tier 2 merchants. Due to its success and attendee feedback IP Solution will be running additional events in the near future to further educate merchants on the benefits of managed tokenisation and payment services.
IP Solutions launches MerchantSecure to Fight Australian Credit Card Fraud
Sydney – September 2013 – IP Solutions International has announced a new partnership with Mako Networks (NZ) to bring enhanced payment card security services to the Australian market. The two companies have entered into an agreement for IP Solutions to sell Mako’s Payment Card Industry Data Security Standard (PCI DSS) services for card-present merchants as MerchantSecure, a bundled solution tailored for distributed enterprises such as franchisors and retail chains.
The new MerchantSecure offering will allow IP Solutions to unify its array of PCI DSS compliant solutions, providing a complete portfolio of services for both online and bricks-and-mortar businesses to mitigate credit card fraud risk.
“This new partnership brings the first networking service in the world to achieve PCI DSS compliance to Australia,” says Michael Donoghue, Director of Corporate Payment Solutions for IP Solutions. “With IP Solutions’ expertise in compliance for online payments and Mako’s unique accreditation for PCI protection at card-present merchants, this partnership represents the total package.”
Australian merchants have been particularly hard-hit by card fraud incidents in the past six months. In late November, Australian Federal Police arrested 16 gang members accused of stealing credit card data from more than 100 small- and medium-sized businesses and cashing out at least AUD$30 million. Authorities said the syndicate had access to at least 500,000 card numbers, and was the largest card data theft in Australian history.
Earlier in September police broke up a card fraud ring in suburban Sydney, seizing more than 15,000 fake credit cards with a potential value of AUD$37.5 million and arresting eight suspects.
“Card fraud at retailers and restaurant chains has been a growing concern in Australia,” says Michael Donoghue, Director of Corporate Payment Solutions for IP Solutions. “That’s why we’ve chosen Mako’s technology to help us reach these vulnerable merchants. IP Solutions is now the market leader for end-to-end PCI compliance in Australia.”
Australia has attempted to lower fraud rates in the country by mandating chip-and-PIN (EMV) card technology, which boasts more secure authentication mechanisms. However results have been mixed: card fraud losses in 2011 actually rose to $16.4 million from $12.9 million in 2010 on Australian-issued payment cards—the highest level in six years of recorded data.
Moreover, common EFTPOS cards, which account for 51 percent of all transactions in Australia, do not contain EMV chips and are therefore more vulnerable to counterfeiting.
“Now is the time for Australian merchants to take the threat of card fraud and data breaches seriously. We urge any business that processes, stores or transmits sensitive information such as credit card details to consider the implications to their business; if a breach were to occur, the issues associated with lost customers, fines, business interruption and brand damage could be irreparable,” says Donoghue.
Australian Companies need to step up efforts to achieve, optimise and maintain PCI DSS compliance
THE PCI DSS COMPLIANCE CONFERENCE IN SYDNEY IS A KEY EVENT FOR MERCHANTS TO START THE CHALLENGING AND ONEROUS PROCESS.
Sydney, Australia – September 19, 2012 – Recent data from the Ponemon Institute suggests that the average cost of a data breach to Australian companies is about $2.16 million per incident. Based on last month’s compromise where half a million credit card numbers from Australians were stolen and hackers racked up $25 million in fraudulent transactions it’s no longer a case of “can we afford to be PCI compliant”, its “we cannot afford not to be compliant”. Sydney-based IP Solutions International is a leading provider of PCI DSS-compliant solutions and they are taking this message to the upcoming 2012 PCI DSS Compliance Conference in Sydney.
The annual PCI DSS Compliance Conference, now in its fourth year, is designed to encourage merchants, security specialists, and PCI compliance professionals from across Australia to share insights and practical information regarding their efforts to achieve PCI Data Security Standards (DSS) compliance. It’s an important event for all organisations that process large volumes of credit card payments that need to be PCI compliant.
Michael Donoghue, Director of Corporate Payment Solutions for IP Solutions, explains that PCI DSS is becoming increasingly sophisticated and complex, yet offers critical protections for sensitive cardholder data. “In recent years, notorious data security breaches and the increasing sophistication of hackers have led companies to scrutinise the ways in which they store and protect customer information,” says Mr. Donoghue. “Australian companies are now targets, just like the rest of the world and we have to be scrupulous in understanding and adhering to the PCI DSS.”
According to Eric Maya, Director of Sales and Marketing, “The PCI DSS Compliance journey can be an onerous and challenging one—the biggest issues often faced are working with legacy systems and the ongoing maintenance of PCI compliance.”
IP Solutions has attended and sponsored the PCI DSS Compliance Conference for the past three years. “Given the importance of the PCI DSS Compliance Conference, sponsoring the event is a logical extension of our efforts to expand the depth and breadth of understanding within the Australia marketplace. Organisations can no longer sit on the fence because the criminals are now in our own backyard,” explains Mr Maya.
This year’s PCI DSS Compliance Conference will be held on Monday, September 24 in the Pullman (formerly Sydney Marriott Sydney) Hyde Park. Sessions will cover the scope and impact of PCI compliance, organisational strategies for dealing with sensitive information, recent PCI developments, and related topics. Attendees will also be able to participate in a question-and-answer session with a panel of PCI DSS compliance experts.