SCHAUMBURG, Ill., July 1 IL-Network-Merchants
SCHAUMBURG, Ill., July 1 /PRNewswire/ -- Network Merchants Inc (NMI) today announced the launch of CertifyPCI(TM) - an automated web-based PCI Certification tool to PCI certify qualified merchants in minutes. NMI continues to develop state-of-the-art tools that help their Partners and their merchants improve security and reduce the costs of becoming PCI Compliant.
According to Visa, merchants, service providers and their agents are required to use payment applications that support the Payment Card Industry Data Security Standard (PCI DSS), by July 1, 2010 in an effort to mitigate emerging security risks. CertifyPCI(TM) is committed to streamlining the PCI Certification process in an effort to help merchants easily achieve a higher level of security.
More than 285 million records were compromised in 90 confirmed breaches last year according to Verizon's 2009 Data Breach Investigations Report. "That's more than the combined total from 2004 to 2007," said Ted Cucci, NMI's Chief Operating Officer. The study also shows that 27 percent of breaches occurred in a matter of minutes, and 49 percent of incidents were discovered months later. The severity of data breaches has been the result of many catastrophic financial losses. Based on the report, a staggering 81 percent of breaches occurred to victims that were not PCI compliant. "The typical organization had met less than one third of the requirements in PCI DSS. These breaches, in general, did not occur in organizations that were highly compliant with PCI DSS," Cucci added.
CertifyPCI(TM) also offers a $50,000 per occurrence insurance for merchants and agents should there be any breaches or incidents. "The average fine for a security breach is $36,000 and this insurance coverage will give those businesses a cushion against any financial losses," stated Jim McKenzie, NMI's Chief Executive Offer.
About NMI:
Network Merchants Inc builds e-commerce payment gateways for companies that process retail and online transactions in real-time anywhere in the world.
With an exceptional team of software engineers, NMI created, maintains and delivers a substantial suite of payment solutions through a unique channel of distribution. This channel is comprised of financial institutions, ISOs/MSPs, payment processors, VARs, e-commerce developers and hardware manufacturers interested in retaining their existing merchant-customers and acquiring new business. With an easy to integrate transparent and private-label program, Affiliate Partners maintain their own look and feel while providing merchants with efficient and secure payment processing solutions. For more information, please visit www.nmi.com.
Contact:
Network Merchants Inc
800-617-4850
info@nmi.com
SOURCE Network Merchants, Inc
