Recommended Article “Will Devices for Mobile Payments Pass PCI Test?”

This May 27, 2012 article by the American Banker, talks about the role of merchants and PCI compliance as it relates to secure mobile banking or payments, including providing guidelines.

You can also read our blog post Use Your Smart Phone Wisely for Mobile Payments for tips on what you need to do to make sure you are shopping safely when using smart phones, tables, or any Wi Fi connected device. Is the technology safe? In short yes, but only as safe for your as your own security habits, just like when you buy online with your PC or laptop.

“Will Devices for Mobile Payments Pass PCI Test?
Mobile phones are becoming the Swiss Army knives of banking — mobility seems to present an almost infinite number of ways to extend financial services...

The PCI Council is weighing in on the issue by releasing its first set of guidance for mobile payment acceptance security. The guidance is an initial step in vetting the technology that’s designed to execute mobile phone-enabled payments… The new guidance is designed to help merchants and merchant acquiring banks understand their responsibilities under PCI and how these responsibilities translate to mobile payment acceptance, and to eventually choose a provider that complies with PCI’s standards for payments encryption.”

“If you were to use one of these newfangled devices that fits on to a cellphone or iPad to start accepting credit cards, that’s what we’re looking at,” says Bob Russo, the general manager of the PCI Council…MORE

Source: American Banker, May 16, 2012 as http://www.americanbanker.com/issues/177_94/pci-mobile-banking-merchant-acquisition-1049345-1.html?force_pg=mobilebanker


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