APAX Global Payment & Technologies AG announced that it is compliant with the Payment Card Industry data protection standards and can now provide merchants and cardholders with extra security.

Only a small amount of processors are Payment Card Industry compliant to date. Including APAX, Europe has about 110 compliant card processing companies and Banks.

The purpose of PCI Data Security Standard is to ensure that all valuable cardholder account data is always secured. PCI is endorsed by VISA Inc., Mastercard Worldwide, JCB International, American Express and Discover Financial Services. The standards include 12 rigorous requirements which must be met by merchants and service providers that store, process or transmit payment card data.

Commenting on this update, Peter Arnold, APAX CEO, said "Nine in ten European firms have failed to achieve compliance with a credit card industry standard for processing e-commerce transactions, 54 per cent have no timetable for getting up to speed. APAX is proud to be part of the PCI compliant small group of Banks and companies in Europe. Under continuing improvements of security standards and a consistently high level of threats in the card processing industry, APAX wanted to show its commitment to providing secure payment solutions.

Jaya /ITvoir Network