Publication: Malaya
Publication Date: July 3, 2014
The Credit Card Association of the Philippines (CCAP) has laid down another security standard that will further ensure the safe handling of data.
Alex Ilagan, CCAP executive director and spokesperson said the group’s 13 members will soon align their systems in compliance with the Payment Card Industry Data Security Standard (PCI DSS), ultimately benefiting consumers as it increases the protections for cardholders against identity theft.
Ilagan said CCAP’s member banks shall comply with the standards to increase their control over cardholder data, thus reducing fraud through exposure. He added it also provides an actionable framework for developing a robust account data security process, including preventing, detecting and reacting to security incidents.
PCI DSS originally began as separate programs by Visa, Mastercard, American Express, Discover, and JCB —- all of these eventually coalescing to create an additional level of protection for card issuers. That is why in December 2004, these credit card companies aligned their own policies to create the PCI DSS.