Radiant Systems Inc. has issued a new challenge to the industry to come together to dramatically improve data security in the transaction-processing industry.
"Our vision is to encourage all involved in transaction processing to move from a mindset of independent compliance to one of collaborative security that will greatly reduce the risk of data theft," said John Heyman, chief executive officer at Radiant Systems. "We believe the current data security blueprint in the payments industry is designed with many constraints in mind and therefore is not able to go far enough."
Today, payment application technology providers have a narrowly defined requirement to develop secure payment applications, which is only a small piece of protecting merchants and the consumer data they handle. Improving the security of data requires many companies throughout the transaction process to work together on a united front.
Radiant is working to create new standards across the payment process, educate businesses on how to reduce theft by meeting the current 12-step Payment Card Industry Data Security Standard (PCI DSS) requirement process, and build new technologies outside its POS software to combat theft.
Radiant Systems' third generation of Payment Application Data Security Standard (PA DSS) validated POS platforms is currently completing validation by Coalfire Systems, Inc., a leading IT audit and compliance firm.
"Over the past year, we have seen a dramatic increase in the sophistication of attacks on payment transactions that look for the gaps between PA DSS-validated payment applications and PCI DSS-compliant network infrastructure," said Rick Dakin, president of Coalfire. "Radiant Systems' leadership, a catalyst for increased collaboration efforts between merchants, infrastructure solution vendors and POS platform developers, will be essential to close the gaps that put the entire transaction process at risk."