April 20, 2010 09:00 ET
Vindicia Changes Market Dynamics of PCI Compliance
Hosted Order Automation Eliminates PCI Burden and Delivers Millions in Savings for Online Merchants
REDWOOD CITY, CA--(Marketwire - April 20, 2010) - Vindicia today announced the availability of its new Hosted Order Automation (HOA) capabilities as part of the Vindicia CashBox™ solution. By using HOA in CashBox, online merchants are able to completely offload PCI compliance to Vindicia while maintaining complete control over their customers' buying experience. HOA allows merchants to accept credit cards on their own order pages, maintain complete control over their customer data, and create a compelling online experience for their customers without ever touching a credit card and subjecting themselves to PCI regulations.
Merchants are experiencing increasing pains associated with storing and managing customer credit card data and maintaining PCI compliance -- with costs for a typical Level 1 merchant estimated at a minimum of $2 million for a system upgrade to meet PCI regulations and an additional $250,000 annually to maintain compliance(1). In addition, card associations now mandate that U.S. and Canadian merchants achieve full compliance with PCI regulations by July 1, 2010 or face substantial penalties. By leveraging HOA, online merchants can rely completely on Vindicia's PCI Level 1 Services Provider certification and its SAS 70 Type II audited infrastructure to accept credit cards online without assuming the heavy and costly burden of PCI, while still maintaining total control over their user experience.
"Vindicia's compliance expertise was critically important to us, and a key factor in our selecting CashBox as our online billing system," said Joel Auge, CEO of HitGrab, Inc. "By using HOA and removing the complexities that come with PCI compliance, we can stay focused on our core competency -- building and delivering popular games, all the while keeping our customers happy."
"HOA redefines how online merchants should think through their own PCI compliance efforts," said Vindicia Chairman and CEO Gene Hoffman. "By offloading that burden onto CashBox, merchants are now able to reallocate PCI costs into upgrading their products and improving their customers' online experience. Additionally, companies who have avoided taking credit cards online due to the cost of meeting PCI regulations now have an alternative path to launching new digital business models."
On a related note, tomorrow at Cloud Expo in New York, Vindicia CTO Brett Thomas will present a session titled, "Compliance and Customer Ownership in the Cloud" at 5:05 p.m. ET.
Hosted Order Automation is available immediately as part of the Vindicia CashBox solution. For more information, visit www.vindicia.com/HOA.
Vindicia offers an on-demand strategic billing solution for marketing and sales that manages subscriptions and one-time payments for online merchants. We work with some of the best-known brands on the Internet, including Symantec, Activision Blizzard, Intuit, and Atari/Cryptic. As an externally audited PCI Service Provider and a SAS 70 Type II company, Vindicia securely handles online revenue of over a billion dollars annually. For more information, visit www.vindicia.com.
(1) Internet Retailer, "Costs of Data Breach Far Overshadow Cost of PCI Compliance, Study Finds," Thursday, January 3, 2008