BENEFIT gets PCI DSS certification for security

TDT | Manama                                        

The Daily Tribune – www.newsofbahrain.com   

BENEFIT, a prominent Fintech and electronic financial transactions service provider, announced it has achieved the Payment Card Industry Data Security Standard (PCI DSS) Version 4.0 Certification, making it one of the first companies in the Kingdom to do so.

This achievement follows BENEFIT implementing controls that exceeded the standards of the previous version, PCI DSS v.3.2.1.

The new standard includes a range of enhancements, such as increased guidance on adopting security controls, stronger compliance activities, improved payment validation methods and procedures, updated password requirements, more rigorous testing procedures, a greater focus on cybersecurity activities, as well as an increased frequency of security controls testing.

PCI DSS 4.0 aims to provide an increasingly robust and comprehensive framework for securing payment card data.

Ali Beshara, Head of Information Security and Risk Management at BENEFIT, highlighted the significance of this achievement, stating, "This new standard gives our clients the assurance that we fully comply with PCI DSS requirements and that their financial transaction data is processed securely.”

“By implementing this updated version, security measures designed to protect cardholder data from a number of potential risks and attacks will be strengthened even more,” he added. 

PCI DSS is a globally recognised information security management standard that incorporates security policies, procedures, and technical controls to ensure that all businesses that receive, store, process, or transmit credit card information operate in a secure environment.