NOTTINGHAM, UK (April 8, 2014) – Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced that its TranzWare product suite has achieved Payment Application Data Security Standard (PA-DSS) Version 2.0 certification. The validation of TranzWare means that the company’s entire product offering is now compliant with the standard after the TranzAxis open development payments platform was certified in October 2012.
The company was one of the first to become PA-DSS compliant in 2009, when only 11 percent of vendors had achieved the standard, and the recent validation confirms Compass Plus’ continuous commitment to security in the payments industry. PA-DSS was developed by the Payment Card Industry Security Standards Council with the aim of ensuring software vendors are developing secure payment applications for third-parties, such as financial institutions and merchants, that do not store prohibited cardholder data, giving consumers confidence in the safety of their confidential information. PA-DSS applies to applications that store, process or transmit cardholder data as a part of authorisation and settlement.
“Security will always remain a key issue in the payments industry and as such Compass Plus is committed to making the security and reliability of our products our top priority,” said Maria Nottingham, executive vice president at Compass Plus. “By achieving the most recent and highest level of PA-DSS compliance across our entire offering, we are able to help facilitate our customers in becoming PCI DSS compliant, which not only minimises the potential for security breaches resulting in compromised consumer data, but is a requirement for all companies working with Visa and MasterCard.”
About Compass Plus
Compass Plus provides comprehensive, integrated and flexible payments and retail banking software that helps payment service providers and financial institutions meet rapidly changing market demands. Its diverse customer base spans retail banks, processing centres, national switches and personalisation centres in dozens of countries across Europe, Asia, Africa, the Middle East, North and South America. With almost 20 years experience, Compass Plus helps build and manage payment systems that generate new revenues and improve profits for its customers.