Licel Joins Forces with PCI Security Council for Payment Safety
Licel Partners with PCI Security Standards Council
Licel plans to leverage its extensive expertise in securing mobile payments to help develop the security standards established by PCI. This partnership aims to bolster the protection of payment data worldwide.
Licel's Role and Contributions
As a key player in mobile channel protection, Licel has announced its membership in the PCI Security Standards Council (PCI SSC), joining as an Associate Participating Organization. The collaboration aims to enhance payment security by continuously improving the PCI Security Standards.
Global Efforts in Payment Security
Established as a leading initiative, the PCI SSC focuses on creating a secure payment environment through effective standards and programs. This effort emphasizes the critical need for collaboration among industry leaders to stay ahead of emerging threats within the payment ecosystem.
Licel's Commitment to Innovation
For over fourteen years, Licel has been instrumental in protecting mobile banking applications, digital wallet apps, and various payment solutions against evolving security threats. Its mission has led to a diverse range of trusted products, including their latest innovation, the Licel vTEE.
Advanced Security with Licel vTEE
The Licel vTEE represents a virtual trusted execution environment tailored for applications involving sensitive transactions. Evaluated and approved for both Android and iOS by EMVCo, the vTEE facilitates compliance with vital security standards such as PCI MPoC.
Collaboration for Awareness and Security
"There's a significant synergy between our goals and what PCI SSC is striving to achieve," commented Ivan Kinash, co-founder and CEO of Licel. The company is excited to provide insights on evolving attack strategies and the most effective protection measures for developers.
The partnership embodies Licel's vision of a mobile technology landscape where users can transact without hesitation. It underscores their commitment to play an active role in shaping secure payment practices globally.
Engagement and Initiatives
As part of its participation, Licel plans to contribute to the PCI standards development process actively. This involvement allows them to represent their industry experiences and collaborate on initiatives that enhance payment security.
Gina Gobeyn, Executive Director of the PCI SSC, highlighted the importance of Licel’s role in this collaborative effort, saying, "As cyber threats become increasingly sophisticated, the PCI Security Standards help organizations secure payment data effectively. Licel's expertise in mobile payment security is a valuable addition to our community.”
About Licel
Licel stands as a premier mobile channel protection provider, utilizing advanced technologies like anti-malware, device intelligence, and a trusted execution environment to secure the future of various mobile payment solutions. Their products protect around 310 million users across more than 12 billion instances of secured applications.
About PCI Security Standards Council
The PCI Security Standards Council (PCI SSC) leads a cooperative initiative dedicated to enhancing payment security through industry-driven standards. By equipping businesses with resources to counteract cyber threats, the Council plays a vital role in safeguarding sensitive data in financial transactions.
Frequently Asked Questions
What is Licel's new partnership about?
Licel has partnered with the PCI Security Standards Council to enhance payment data protection globally through the development of robust security standards.
How does Licel protect mobile payments?
Licel employs innovative technologies and solutions, including their Licel vTEE, to secure mobile banking and transaction applications.
What are PCI Security Standards?
The PCI Security Standards are guidelines developed to protect sensitive payment data from breaches and ensure secure financial transactions.
Why is industry collaboration important?
Industry collaboration allows organizations to share insights, strategize collectively, and respond effectively to evolving security threats in the payment landscape.
How can organizations benefit from PCI standards?
By adhering to PCI standards, organizations can mitigate cyber threats, secure payment transactions, and avoid potential data breaches that could be costly.
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