AJB Software Design, Inc., a leader in integrated payment solutions, today announced that its FIPay suite of payment products have achieved PCI’s PA-DSS 2.0 validation, and its RTS products are projected to be PA-DSS 2.0 validated by Q1 2013, well in advance of the October 28th, 2013 deadline, which requires merchants to upgrade from the existing PA-DSS version 1.2.1. The newer PA-DSS 2.0 standard is in effect for new payment applications until October 28th, 2016.
AJB provides merchants with an easy way to pre-validate their payment applications. Existing AJB customers using PA-DSS 1.2.1 validated products are eligible to receive PA-DSS 2.0 security patches. By implementing PA-DSS 2.0 compliant software before the deadline, merchants can reduce PCI-DSS validation complexity, time and cost for deploying new payment applications, while ensuring that their software is more secure.
“For over 18-years, AJB has focused on making it easy for our merchant customers to migrate to new and emerging forms of payments and security standards,” said Simon Li, Manager of Security & Compliance at AJB. “By being ahead of the curve in payment validation security standards, AJB makes it easier for merchants to implement new payment software, while ‘future-proofing’ their payment application compliance for years to come.”
Non-PCI compliance can result in significant penalties for merchants. The card brands at their discretion can fine acquiring banks $5,000 to $100,000 per month for PCI related violations, and typically the banks will pass the fine on to merchants. In addition, merchants are less secure without PCI compliance. According to the Verizon 2012 Data Breach Investigation Report, 96% of data breach victims subject to PCI-DSS had not achieved PCI-DSS compliance. So businesses that were PCI-DSS compliant were 20 times less likely to have their data breached.