EFT Canada Inc.
TSX VENTURE : EFT

EFT Canada Inc.

September 13, 2013 09:34 ET

EFT Canada Achieves Level 1 Payment Card Industry (PCI) Compliance

TORONTO, ONTARIO--(Marketwired - Sept. 13, 2013) - EFT Canada Inc. ("EFT") (TSX VENTURE:EFT), today announced that it has achieved the status as a PCI Level 1 secure service. Companies can now use EFT to store, process and transmit credit card information in the cloud, without having to invest heavily in their own infrastructure to provide their customers the highest standard for payment data security.

PCI-DSS is a comprehensive payment card security standard that evaluates payment account data security by assessing a firm's network architecture, software design, security policies, procedures and protective practices. The PCI requirements were developed by the PCI Security Standards Council--which includes American Express, Discover, JCB International, MasterCard and Visa--to help facilitate adoption of data security best practices worldwide.

Data security and compliance are key business drivers for online retailers and other organisations that process credit card transactions. Companies are required to meet the PCI DSS certification and failure to do so can prove costly, resulting in large fines if a data breach takes place as a result of not being compliant. To achieve a Validated Level 1 Service Provider Status, EFT commissioned a third party examination by a Qualified Security Assessor (QSA) to validate compliance with PCI DSS. The Level 1 requirement applies to any provider who stores, processes or transmits more than 300,000 transactions annually to Visa or MasterCard.

"Security has always been and will continue to be a high priority," said James Watt, Vice President Card Services, EFT Canada. "By pursuing certifications and third party attestations like the PCI DSS Report On Compliance audit, we're able to give customers continued assurance that the EFT card service cloud is a trustworthy, reliable, and secure platform."

EFT CANADA INC.

EFT Canada, founded in 2003, is a financial processing company that offers a complete solution to the collection and payment processing needs of small and medium sized business merchants, banks, credit unions, and other financial firms in Canada and the United States. The Company develops, maintains and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection processing solutions and gift and loyalty card services, by drawing on its operational and applications expertise. For more information, please visit www.eftcanada.com.

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • EFT Canada Inc.
    Jonathan Pasternak
    President
    (416) 781-0666
    jpasternak(at)eftcanada.com
    www.eftcanada.com