It is advised that banking institutions and financial services should use the guidance when assisting merchants with mobile transaction security. The PCI Council’s new guidance has been created to educate merchants on the risks and threats that need to be addressed to ensure data is secure when transactions are carried out on smartphones or tablets.
Further guidance is also provided about risks merchants need to consider when collaborating with mobile platform and device vendors, two factors that can often be overlooked. Moving forward with mobile security, experts insist that encrypting card data before transmission ensures the data is protected during the transaction process and if it is stored on the device.
Whilst PCI DSS is not a required stipulation in the Direct Debit industry, SmartDebit have carried over their processes from their card processing service. A representative from SmartDebit commented on the new guidance: “Highlighting the necessary requirements to improve payment security is always a good thing. With the rise of mobile payments comes an increase in fraudsters’ attempts to expose vulnerabilities. The PCI Council have recognised this and is clearly taking a pro-active stance to ensure both merchants and consumers are protected from the outset of the mobile payments revolution. Banking institutions need to play a big part in ensuring merchants comply with the data security standard, helping them to identify risks and implement the required protocol.”
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