SHANGHAI, CHINA and CHICAGO, IL -- 07/01/08 --
International Payment
Solutions (IPS), one of the first payment service providers in mainland
China and a leader in the payment processor industry, has engaged Trustwave
to validate compliance with the Payment Card Industry Data Security
Standard (PCI DSS). Trustwave is the leading provider of on-demand data
security and payment card industry compliance management solutions to
businesses and organizations throughout the world.
PCI DSS is the payment card industry security requirement for entities that
store, process or transmit cardholder data, and has been endorsed by all
the major card brands -- Visa Inc., MasterCard Worldwide, Discover Network,
American Express and JCB. Under the PCI DSS, payment service provider
compliance requirements are segmented into three levels based on the number
of transactions processed and/or transmitted annually.
To validate compliance with the PCI DSS, IPS has engaged Trustwave to
demonstrate compliance with 12 stringent security requirements of the
credit card brands, submitting to a rigorous review of its information
security policies, procedures and IT environment. As a Level 1 processor,
the review will include compliance validation services, penetration
testing, policy and procedure creation and Trustwave's TrustKeeper® -- an
on-demand compliance management solution.
"Protecting cardholder data is a sound security practice that our
organization takes very seriously, which is why we felt it was necessary to
start the PCI DSS compliance validation process as a way to safeguard that
information," says Solla Wen, general manager of IPS. "Trustwave has the
technology and expertise to help our organization through the compliance
process, and their local presence brings us a better understanding of the
steps involved."
"IPS continues to demonstrate industry leadership with their PCI DSS
compliance validation initiative," says Robert J. McCullen, chairman and
CEO of Trustwave. "Through our relationship, IPS has access to our
expertise and technology to mitigate their risk and protect their
customers' data."
"Using Trustwave's full suite of proprietary technology necessary to
validate PCI DSS compliance, IPS will implement the proper security
protocols for the secure handling of consumer information," says Sophia
Chen, director of Northern Asia Pacific for Trustwave.
About IPS
International Payment Solutions (Shanghai) Limited (IPS) was founded in
2000 as one of the first payment service providers in mainland China. For 8
years, IPS has been the trusted payment service provider for millions of
card holders. With transaction volume rising rapidly, IPS has become the
forerunner in the payment service arena. Currently IPS transacts with all
major domestic banks in China as well as numerous international credit card
companies including VISA, MasterCard, JCB, and Singapore's NETS. IPS is
also the strongest online payment platform for China debit cards as it
processes tens of thousands of online transactions originating from
mainland China, Hong Kong, Macau, and Singapore. Major IPS services include
bank card payments, IPS account payments, and telephone payments. IPS has
also developed new product offerings such as online hotel reservation and
ticket reservation services. These offerings are designed to provide
consumers, merchants, corporations and financial services clients a
comprehensive and high quality service. IPS is headquartered in Shanghai
and has offices in Beijing, Shenzhen and Hong Kong.
About Trustwave
Trustwave is the leading provider of on-demand and subscription-based
information security and payment card industry compliance management
solutions to businesses and government entities throughout the world. For
organizations faced with today's challenging data security and compliance
environment, Trustwave provides a unique approach with comprehensive
solutions that include its flagship TrustKeeper® compliance management
software and other proprietary security solutions. Trustwave has helped
more than 30,000 organizations -- ranging from Fortune 500 businesses and
large financial institutions to small and medium-sized retailers--manage
compliance and secure their network infrastructure, data communications and
critical information assets. Trustwave is headquartered in Chicago with
offices throughout North America, Europe, Africa, China and Australia.
MEDIA CONTACT:
Wing Zhong
IPS
Email Contact
+86 (0)21-62267829-3309
Michelle Genser
Trustwave
Email Contact
312-873-7288
