Ericsson (NASDAQ:ERIC) today announced that Ericsson Wallet Platform 3.0 has obtained certification for the Payment Card Industry (PCI) Security Standards Council’s Payment Application Data Security Standard (PA-DSS v3.0).
The certification validates that a financial software solution conforms to stringent security standards. Ericsson Wallet Platform provides financial institutions and operators with best-in-class security capabilities for mobile money services and makes it easier and less costly to certify card-based offerings.
Jan Willekens, Information Security Manager for Ericsson M-Commerce, says: "Ericsson is a global leader in mobile financial services and with our Wallet Platform we provide a secure, robust and scalable offering to help customers significantly minimize financial losses due to fraud and security breaches. Ericsson Wallet Platform, the only mobile financial service solution to obtain this certification, provides the richest security feature set of all mobile financial services products on the market."
PCI security standards protect cardholder data and govern all merchants and organizations that store, process or transmit cardholder data. Included are requirements for applications and devices used in the transaction process, as well as how software is developed. A Council of major payment card brands such as MasterCard and Visa enforces compliance with PCI security standards.
Ericsson is driving the next generation of mobile commerce development by connecting banks, operators, money transfer organizations, and payment and loan providers. This industry-leading work is creating a more flexible, transparent and open financial ecosystem that helps key stakeholders speed the launch of mobile financial services to drive financial inclusion.
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