Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New partnership delivers security to card-present merchants


New partnership delivers security to card-present merchants

AUCKLAND, New Zealand – 7 February 2012 – Mako Networks has today announced a new partnership with IP Solutions International to bring enhanced payment card security services to the Australian market. The two companies have entered into an agreement for IP Solutions to sell Mako’s Payment Card Industry Data Security Standard (PCI DSS) services for card-present merchants as merchantsecure, a bundled solution tailored for distributed enterprises such as franchisors and retail chains.

IP Solutions is a provider of PCI DSS compliant e-commerce solutions to ASX top 50 and Fortune 500 companies, boasting a Level 1 PCI DSS certification and recognized expertise in the payment processing and card data security fields. Meanwhile, Mako Networks has developed a unique leadership position in PCI DSS services through its patented cloud-managed system that enforces compliance on business networks, with its own Level 1 PCI DSS certification.

The new merchantsecure offering will allow IP Solutions to unify its array of PCI DSS compliant solutions, providing a complete portfolio of services for both online and bricks-and-mortar businesses to mitigate credit card fraud risk.

“This new partnership brings together the best of two PCI-compliant businesses,” says Bill Farmer, Mako Networks CEO. “With IP Solutions’ expertise in compliance for online e-commerce and Mako’s unique accreditation for PCI protection at card-present merchants, this partnership represents the total package.”

Australian merchants have been particularly hard-hit by card fraud incidents in the past six months. In late November, Australian Federal Police arrested 16 gang members accused of stealing credit card data from more than 100 small- and medium-sized businesses and cashing out at least AUD$30 million. Authorities said the syndicate had access to at least 500,000 card numbers, and was the largest card data theft in Australian history.

Earlier in September police broke up a card fraud ring in suburban Sydney, seizing more than 15,000 fake credit cards with a potential value of AUD$37.5 million and arresting eight suspects.

“Card fraud at retailers and restaurant chains has been a growing concern in Australia,” says Michael Donoghue, Director of Corporate Payment Solutions for IP Solutions. “That’s why we’ve chosen Mako’s technology to help us reach these vulnerable merchants. IP Solutions is now the market leader for end-to-end PCI compliance in Australia.”

Australia has attempted to lower fraud rates in the country by mandating chip-and-PIN (EMV) card technology, which boasts more secure authentication mechanisms. However results have been mixed: card fraud losses in 2011 actually rose to $16.4 million from $12.9 million in 2010 on Australian-issued payment cards—the highest level in six years of recorded data.

Moreover, common EFTPOS cards, which account for 51 percent of all transactions in Australia, do not contain EMV chips and are therefore more vulnerable to counterfeiting.

“Now is the time for Australian merchants to take the threat of card fraud and data breaches seriously. We urge any business that processes, stores or transmits sensitive information such as credit card details to consider the implications to their business; if a breach were to occur, the issues associated with lost customers, fines, business interruption and brand damage could be irreparable,” says Donoghue.

Information about the merchantsecure service for PCI DSS compliance is available now on the IP Solutions website: www.ipsi.com.au/pci-dss-network-security.

About IP Solutions
IP Solutions International is a specialist provider of Level 1 security-compliant ecommerce solutions. The company provides PCI DSS-compliant managed services, tokenization and payment solutions, network security, IVR solutions, contact centre solutions and credit card data discovery software. The comprehensive suite of products and services helps clients reduce the costs, risks and lead times associated with achieving and maintaining credit card security compliance.

About Mako Networks
Mako Networks is a cloud-based network management company, providing services and managed appliances that connect businesses to the Internet and protect them from the threats it contains. Mako Networks helps merchants that process, transmit or store cardholder data to comply with the stringent Payment Card Industry Data Security Standards (PCI DSS) as a certified Level 1 service provider. Mako representatives in Australia operate from offices in Sydney and Melbourne.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news