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Mainstreet Bank Bags Payment Standard Certification

June 9, 2014



Mainstreet BankMainstreet Bank Limited said it has been awarded the Payment Card Industry Data Security Standard certification (PCIDSS).

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 (PCI) security standards.

PCI DSS is administered and managed by the PCI Security Standards Council, an independent body that was created by the major payment card brands (Visa, MasterCard, American Express, Discover and JCB).

The bank explained in a statement that by the recognition, it had also earned the level 1 PCI certification which is the highest rank available from the major credit card providers (Visa, MasterCard, American Express, Discover and JCB).

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.

Speaking on the certification, the Group Managing Director/Chief Executive, Mainstreet Bank, Faith Tuedor-Matthews noted 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."


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Source: AllAfrica


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