Verizon strengthens security backbone of Monext

MUMBAI, INDIA: Monext France, a provider in e-commerce transactions recently announced that it has entrusted Verizon Business Security Solutions, a provider in IT solutions, to help the company’s online bank-payment processing system meet industry standards for protecting confidential data.

Verizon Business provides professional services support and expertise to obtain payment card industry data security standard (PCI DSS) certification for Monext’s processing system, Payline, said a press release.

Payline, Monext’s secure online payment solution, was one of the first of its kind on the market, and now handles more than 5 million transactions each month for a variety of high-profile French and international banks, e-commerce organizations and retailers.

The PCI DSS initiative that was established in 2004 to combat credit card misuse and fraud, and compliance is now obligatory for all global companies that collect, process or store credit card data, it added.

Ludovic Denis, president of Monext, commented: “Our security requirements are constantly evolving, so we needed a supplier who was able to offer us evolving and fully up-to-date expertise of both general security issues and the specifics of the certification process.

He added that the Verizon Business security solutions team has demonstrated a keen understanding of the local needs in the context of global issues and has assured the local support capabilities and the strategic vision that they need to help support the future goals.

Toufic Daaboul, PCI-DSS development manager for Verizon Business, said: “Companies like Monext need a security services provider that can provide a holistic approach to PCI-DSS compliance, combining consulting and technical support with implementation and service capabilities.

“Verizon Business’ strong expertise in the security market, combined with the company’s global presence and demonstrable track record, gave Monext the peace of mind it required in choosing a security partner,” he added.