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Mainstreet Bank gets global certification

By on June 10, 2014

Mainstreet Bank Limited says it has been awarded the Payment Card Industry Data Security Standard certification.

The PCI DSS is a set of requirements designed to ensure companies that process, store or transmit credit/debit card information, maintain a secure environment to manage the fast evolving payment card industry security standards.

The PCI DSS is administered and managed by the PCI Security Standards Council, an independent body created by the major payment card brands such as Visa, MasterCard, American Express, Discover and JCB.

According to a statement by Mainstreet Bank, it has by this recognition earned the level 1 PCI certification, the highest rank available from the major credit card providers.

Level 1 PCI certification is only given to third-party providers who meet the council’s stringent and audited – credit/debit card transaction security protocols to protect customers’ personal transaction data.

Level 1 requires an external audit for approval, which is more rigorous than lower level compliance. The process further attests to the security of the bank’s network, applications, hardware and business processes.

The audit was performed by the qualified security assessor from Phillips Consulting, the first indigenous QSA in Nigeria, the bank said.

The statement quoted the Group Managing Director, Mainstreet Bank, Faith Tuedor-Matthews, as noting that ‘’attaining the highest level in PCIDSS is a significant milestone for the bank being a key regulatory requirement for major electronic payment providers.

“PCIDSS will further boost our customers’ confidence in the safety and protection of their electronic data and e-payment services.”

She added, “Having invested enormous time and resources in technology and manpower, Mainstreet Bank is now ready to roll out several e-payment solutions to serve its customers within and outside Nigeria who desire reliable payment solutions to ease their financial needs.

Mainstreet Bank has by this certification joined other commercial banks, switches and processors who have become PCIDSS compliant ahead of the November 30, 2014 given by the Central Bank of Nigeria.

 

 

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