Mako Networks, a cloud-based network management company, and Phoenix Managed Networks, a payment network services provider, have joined forces to launch a new transaction solution called PaySecure. It is intended to simplify payment security and compliance with the Payment Card Industry Data Security Standards (PCI DSS).
Mako will provide its hardware and software-based service to Phoenix Managed Networks, which will serve as distributor and operator of a customised central management system that delivers cloud-based security management and PCI DSS compliance support to card-present merchants and small and medium-sized enterprises (SMEs).
The mandatory PCI DSS, created by the five major credit card companies in 2004, helps merchants that process, store or transmit credit card data reduce the risk of credit card fraud through a variety of safeguards. Among the most difficult aspects of compliance is network security, which PaySecure simplifies through the use of a preconfigured PCI DSS template and robust firewall and security protocols.
Phoenix Managed Networks chief executive officer (CEO), Jack McDonnell, said: “Partnering with Mako enables us to further extend our reach into merchant locations and provide a service that simplifies PCI compliance without compromising security. PaySecure streamlines the annual PCI DSS audit process, saves money and resources, and significantly reduces the burden of compliance.”
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