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

 


Auckland: Quarterly Update: Rents Stable During Third Quarter

The average weekly rent for a home in Auckland moved less than $1 during the third quarter, ending 30 September at $606.25, according to data from more than 16,000 rental properties managed by Barfoot & Thompson... More>>



Electricity Authority: Review Of Competition In The Wholesale Electricity Market Raises Questions

In March 2021 the Electricity Authority announced it would conduct a review into competition in the wholesale electricity market. The period of the review covers the sustained elevated electricity prices since an unplanned outage at the Pohokura gas facility in Spring 2018... More>>


Government: RSI ‘State Of The Nation’ Report Published
latest research, science and innovation system report card is now available, and outlines how the system is performing, Research, Science and Innovation Minister Megan Woods has announced. “The report seeks to increase transparency, act as a reliable data source and stimulate discussion... More>>


LAWA: New Zealand Lakes Are Diverse In Their Condition And Type

Freshwater scientists have come together through the Land, Air, Water Aotearoa (LAWA) project to summarise the condition of New Zealand’s monitored lakes. They have found a varied picture of lake condition... More>>



Pamu & Westpac: Market-leading Sustainability-Linked Loan

Westpac NZ and Pāmu have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise. Pāmu, also known as Landcorp, is New Zealand’s biggest farming business. It will borrow $85m from Westpac NZ over three years... More>>


Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>