BIG Software First to Complete the New PABP Rapid Compliance Program, Helping Merchant Customers Move Toward PCI DSS Compliance
Las Vegas, Nev., Nov. 13, 2007 - IP Commerce, Inc., a software company enabling open commerce services between businesses, and BIG Software, Inc., a software company that provides back-office solutions to small businesses, today announced BIG's completion of the PABP Rapid Compliance program. This program, led jointly by IP Commerce and Coalfire Systems, provides software developers with an efficient and more cost-effective way to gain Payment Application Best Practices (PABP) validation. PABP is a set of Visa recommendations that help software companies create and maintain secure payment applications. A PABP-verified application ensures their merchants and agents do not use payment applications known to retain sensitive customer information such as the full contents of any magnetic strip and PIN data.
By using the PABP Rapid Compliance Program, BIG Software was able to PABP-verify their payment application Rapid Receipts for Microsoft Office Accounting."The PABP Rapid Compliance Program offers the easiest and quickest path available in the market to get a payment application PABP verified by Visa," said Ernest Cook, President, BIG Software, Inc."Receiving PABP validation will accelerate our ability to add commerce capabilities to our applications and make compliance headache-free for our customers. It also gives us a powerful market differentiator that will help mitigate risk for our merchant customers, and for ourselves."
Vulnerable payment applications have proved to be the leading cause of compromised incidents, particularly among small merchants. In an effort to combat identity theft, Visa developed PABP and will begin implementing a series of mandates starting January 1, 2008, to eliminate the use of non-secure payment applications from the Visa payment system. These mandates were recently adopted by the PCI Security Standards Council, the global forum for card data security, into their Payment Applications Data Security Standards (PA-DSS). PA-DSS regulations are expected to be detailed in early 2008.
The PABP Rapid Compliance Program was designed specifically for payment industry software companies to validate their application against Visa's PABP standard. Participation in the Rapid Compliance Program significantly expedites the process to obtain PABP validation from Visa. Instead of taking six months to a year to initiate, software vendors that take part in the PABP Rapid Compliance Program can now receive the PABP validation within months.
The PABP Rapid Compliance Program utilizes IP Commerce's Commerce Toolkit for Applications, which includes best practice implementations of PABP recommendations, enabling software developers to focus on creating user experiences and business logic. Because Coalfire auditors are already intimately familiar with the PABP components built in to Commerce Toolkit for Applications, the verification process conducted by Coalfire auditors requires less time and resources.
"This program addresses the long-standing obstacles faced by software developers and makes the process of gaining compliance more understandable, more affordable and more manageable," said Chip Kahn, CEO of IP Commerce."It is our hope that other software developers will follow BIG Software's lead in obtaining PABP validation through this accelerated process to further ensure the security of payment transactions."
By taking a proactive approach to end-user security and receiving PABP validation for their software now, software developers eliminate the need to rewrite code for their commerce-enabled applications down the road once PABP compliance is mandated for all merchants and service providers that store, process or transmit cardholder data.
"We're seeing that merchants actively involved in a compliance program will not select an application that is not PABP validated," said Jim Fish, Vice President, Coalfire Systems."By implementing this program, we are helping software developers such as BIG Software get ahead of the curve in managing customer cardholder data according to Visa's standards to mitigate risk for their companies, as well as their merchant customers."
To learn more about the PABP Rapid Compliance Program, or BIG software's tools, visit the IP Commerce Booth at the BAI Retail Delivery Show in booth number 1068, or go to ipcommerce.com/Developers/Rapid_Compliance.aspx or contact Jim Fish at email@example.com or 206.352.6028 ext. 7565.
About BIG Software
BIG Software Inc, founded in 2006, creates, markets, and supports software for users of small business accounting products. BIG software was an early adopter of Microsoft Office Accounting and has developed expertise in the development environment through custom development projects and creation of their line of products.
About Coalfire Systems
The Coalfire Systems, Inc. team members are specialists in IT audit, information security and regulatory compliance. Coalfire's expertise includes risk management programs for compliance to the Gramm-Leach-Bliley Act, Sarbanes Oxley, HIPAA, VISA CISP (PCI) and other security-related regulations and industry initiatives.
Coalfire's methodology and tools have been validated by over 1,500 of security assessments and audits at government, financial and healthcare organizations to help ensure they meet industry best practices and regulatory requirements under a balanced program that serves the organization's operational requirements and budget considerations.
About IP Commerce
IP Commerce, Inc. is the software company behind the world's first open commerce network delivering on-demand access to the next generation of commerce services. IP Commerce, the company's flagship product, is the first open network to connect commerce services from leading financial institutions with software developers and established distribution channels. In an unprecedented use of service-oriented architecture, IP Commerce makes services accessible to small businesses that are critical to daily business operation and that traditionally have been exclusively available to large businesses. IP Commerce opens worlds of commerce, large and small.
Based in Denver, Colo., IP Commerce, Inc. maintains partnerships with some of the world's most respected financial institutions and software companies. The company is backed by leading investors, including Appian Ventures and Meritage Funds. For more information, visit www.IPCommerce.com.
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