SOURCE: Trustwave

July 01, 2008 20:57 ET

IPS Selects Trustwave to Validate PCI DSS Compliance

SHANGHAI, CHINA and CHICAGO, IL--(Marketwire - July 1, 2008) - 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.

Contact Information