PayEase Obtains PCI DSS Compliance Validation for Payment Security Services

【E-Commerce Journal】BEIJING and CHICAGO, IL–(Marketwire), 16 October 2008 — PayEase, the technology leader in Payment and Loyalty Marketing Service (LMS) for e-commerce merchants in China, has achieved compliance validation with the Payment Card Industry Data Security Standard (PCI DSS). Trustwave, the leading provider of on-demand data security and payment card industry compliance management solutions to businesses and organizations throughout the world, performed the PCI DSS compliance validation for Beijing-based PayEase.

PCI DSS is the payment card industry security requirement for entities that store, process or transmit cardholder data, and has been endorsed by all the major card brands — Visa Inc., MasterCard Worldwide, Discover Network, American Express and JCB. Under the PCI DSS, payment service provider compliance requirements are segmented into three levels based on the number of transactions processed and/or transmitted annually.

To validate compliance with the PCI DSS, PayEase engaged Trustwave to demonstrate compliance with 12 very stringent security requirements of thecredit card brands, submitting to a rigorous review of its IT environment and information security policies and procedures. As a Level 1 processor, PayEase also enrolled in Trustwave’s TrustKeeper? — an on-demand compliance management tool that supports on-going compliance including the required quarterly network vulnerability scans.

“Securing our customers’ personal information is paramount to the success of our business,” says Fred Sum, CEO of PayEase. “As the first payment service provider in China, we are again leading our peers by being one of the first few businesses to validate PCI DSS compliance, a rigorous security regulation that will ensure the protection of cardholder data.”

CyberSource Corporation, a leading provider of electronic payment and risk management solutions in the U.S. and a PayEase global payment strategic partner — also announced its partnership with Trustwave recently to secure ePayment data.

“As a leader in payment services for e-commerce merchants, PayEase understands the importance of securing cardholder data,” says Robert J. McCullen, chairman and CEO of Trustwave. “Using Trustwave’s technology to validate and maintain PCI DSS compliance protects payment information and mitigates risk associated with e-commerce transactions.”

“By adhering to PCI DSS standards, PayEase is demonstrating to its customers the importance of securing critical information,” says Sophia Chen, director of Northern Asia Pacific for Trustwave. “PayEase is an industry leader and we are excited to have the opportunity to work with an organization that understands the importance of data security.”

About PayEase

PayEase is currently one of China’s leading payment & loyalty marketing service provider. Established in 1999, the PayEase payment platform is one of the first payment service providers in China, has conformed to the global ISO 270001 Information Security Management System Standard and ISO 9001 Quality Management System Standard since 2005, and honored as a Red Herring Asia Top 100 Most Dynamic Company Winner in 2006. Through relationships with all national banks in China, the PayEase payment platform facilitates payments among merchants and unifies functionality through a single interface. PayEase’s secured platform provides a unified solution that covers various channels of payment such as Internet, mobile phone, POS, call centers, and E-wallet. In addition, PayEase supports almost all types of bank debit cards issued in mainland China and four international credit cards (VISA, MasterCard, American Express and JCB). Additionally, PayEase offers tailor-made Customer Loyalty Programs (CLPs) to its clients, enhancing their ability to build strong customer relationship and retention program. More information please visit: www.beijing.com.cn

“By adhering to PCI DSS standards, PayEase is demonstrating to its customers the importance of securing critical information,” says Sophia Chen, director of Northern Asia Pacific for Trustwave. “PayEase is an industry leader and we are excited to have the opportunity to work with an organization that understands the importance of data security.”

About Trustwave

Trustwave is the leading provider of on-demand and subscription-based information security and payment card industry compliance management solutions to businesses and government entities throughout the world. For organizations faced with today’s challenging data security and compliance environment, Trustwave provides a unique approach with comprehensive solutions that include its flagship TrustKeeper? compliance management software and other proprietary security solutions. Trustwave has helped more than 30,000 organizations—ranging from Fortune 500 businesses and large financial institutions to small and medium-sized retailers—manage compliance and secure their network infrastructure, data communications and critical information assets. Trustwave is headquartered in Chicago with offices throughout North America, South America, Europe, Africa, China and Australia. For more information, visit https://www.trustwave.com