News

Today, Procard received confirmation from IPS MasterCard about the successful launch of transaction flows in accordance with the MDES protocol - the special part for acquirers which called MDES For Merchants .

The complex and challenging implementation began several months ago. Our team carried out all the necessary tests, resulting in the Procard processor infrastructure meeting the strict IPS MasterCard requirements.

Thus, our clients received the opportunity to use a modern service for their business.

A few words about MDES

Mastercard Digital Enablement Service (MDES) is a powerful platform that facilitates secure and convenient digital payments. Let me break it down for you:

1. What Is MDES?
• MDES is a suite of services developed by Mastercard to manage and generate digital payment tokens. These tokens replace traditional account credentials (such as the Primary Account Number or PAN) with secure digital credentials.
• The goal of MDES is to enable simpler and safer digital payment experiences for consumers, merchants, and financial institutions.
2. How Does MDES Work?
• Tokenization: MDES replaces the PAN (account number) with a unique digital token. This token is specific to the platform, wallet application, or device being used.
• Digitization: The token is provisioned to the target platform or device, allowing it to be used for transactions instead of the PAN.
• Global Reach: MDES leverages the reliability and global network of Mastercard to ensure seamless and secure transactions.
3. Key Features and Benefits:
• Reliable: Convert sensitive information into digital tokens to prevent identity fraud.
• Secured Payment Credentials: Use digital tokens for e-commerce and in-app transactions.
• Scalability: Provide a single connection to major digital wallets and growing digital channels.
• Speed to Market: Launch in-market within 4-6 months using established onboarding and testing processes.
4. Who Benefits from MDES?
• Issuers: Financial institutions can increase revenue, gain wallet share, and deepen customer relationships by leveraging MDES.
• Merchants & Token Requestors: They can balance convenience with security by using digital tokens instead of account PANs. Each payment is secured, preventing fraudulent use.
5. Available Services:
• Pre-Digitization API: Manage processes before a token is ready for use.
• Customer Service API: Resolve customer inquiries related to tokens.
• Token Connect API: Allow account holders to select eligible merchants and digital wallets for tokenized payments.
• Authentication Facilitator API: Leverage cardholder information for authentication when MDES tokens are used across the digital ecosystem.
• Digital Enablement API: Perform tokenization, token transaction, and life-cycle management services.

In summary, MDES empowers secure and globally-scalable digitization, making digital payments safer and more convenient for everyone involved.

Today, Procard LTD finished its activities for registration of the Data Center of the company in the National Payment System Prostir. After a long process of the implementation the company obtained the status of Third Party Processor (TPP) which means that Procard can be a third party processor for both issuers and acquirers of NPS Prostir. 

Getting Prostir TPP status allows Procard to serve its customers from Ukraine. That is the real opportunity to perform well in our business and to increase it fast and effectively.

Today Procard LTD finished its annual PCI 3DS audit. The independent auditing company Compliance Control Ltd. confirms the compliance of Procard information infrastructure to requirements of  PCI 3DS version 2.1.

This is a very important step in building an independent third party processor on the base of our data center and allows Procard LTD to successfully implement itself in the IPS Visa and MasterCard.

A few words about PCI 3DS.

Created by Visa and MasterCard, 3D Secure, also called 3DS, is a technical standard that adds a layer of security to online credit and debit card transactions. The PCI 3DS (or Three Domain Secure, 3-D Secure) is a modern messaging protocol that enables consumer authentication with their card issuer when making online purchases. PCI 3DS and PCI DSS are separate standards. 

The 3DS standard applies to 3DS environments (3DE) where 3DSS, ACS, and/or DS functions are performed. The DSS standard applies to the cardholder data environment (CDE), where payment card data is stored, processed, or transmitted.The Strong Customer Authentication regulation, as part of PSD2 in Europe and similar regulations in the UK, India and Australia, might require using 3DS for card payments. 3DS is optional in other regions but you can still use it as a tool to reduce fraud. Integrate 3D Secure (3DS) into your checkout flow. 

3DS can be very effective at stopping third-party fraud. However, it does nothing to prevent first-party fraud, which makes up the bulk of the average merchant's chargebacks.

Today Procard received confirmation from IPS MasterCard about the successful launch of transaction flows in accordance with the MDES protocol.

The complex and challenging implementation began several months ago. Our team carried out all the necessary tests, resulting in the Procard processor infrastructure meeting the strict IPS MasterCard requirements.

Thus, our clients received the opportunity to use a modern service for their business.

A few words about MDES

Mastercard Digital Enablement Service (MDES) is a powerful platform that facilitates secure and convenient digital payments. Let me break it down for you:

1. What Is MDES?
• MDES is a suite of services developed by Mastercard to manage and generate digital payment tokens. These tokens replace traditional account credentials (such as the Primary Account Number or PAN) with secure digital credentials.
• The goal of MDES is to enable simpler and safer digital payment experiences for consumers, merchants, and financial institutions.
2. How Does MDES Work?
• Tokenization: MDES replaces the PAN (account number) with a unique digital token. This token is specific to the platform, wallet application, or device being used.
• Digitization: The token is provisioned to the target platform or device, allowing it to be used for transactions instead of the PAN.
• Global Reach: MDES leverages the reliability and global network of Mastercard to ensure seamless and secure transactions.
3. Key Features and Benefits:
• Reliable: Convert sensitive information into digital tokens to prevent identity fraud.
• Secured Payment Credentials: Use digital tokens for e-commerce and in-app transactions.
• Scalability: Provide a single connection to major digital wallets and growing digital channels.
• Speed to Market: Launch in-market within 4-6 months using established onboarding and testing processes.
4. Who Benefits from MDES?
• Issuers: Financial institutions can increase revenue, gain wallet share, and deepen customer relationships by leveraging MDES.
• Merchants & Token Requestors: They can balance convenience with security by using digital tokens instead of account PANs. Each payment is secured, preventing fraudulent use.
5. Available Services:
• Pre-Digitization API: Manage processes before a token is ready for use.
• Customer Service API: Resolve customer inquiries related to tokens.
• Token Connect API: Allow account holders to select eligible merchants and digital wallets for tokenized payments.
• Authentication Facilitator API: Leverage cardholder information for authentication when MDES tokens are used across the digital ecosystem.
• Digital Enablement API: Perform tokenization, token transaction, and life-cycle management services.

In summary, MDES empowers secure and globally-scalable digitization, making digital payments safer and more convenient for everyone involved.

Today Procard LTD finished its annual PCI DSS audit. The independent auditing company Advantio Ltd. (Dublin, Ireland) confirms the compliance of Procard information infrastructure to requirements of  PCI DSS version 3.2.1.

This is a very important step in building an independent third party processor on the base of our data center and allows Procard LTD to successfully implement itself in the IPS Visa and MasterCard.

A few words about PCI DSS.

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements designed to protect cardholder data during payment card processing. Here are the key points to cover in your article:

• Understanding PCI DSS Audit:
• Definition: A PCI DSS audit is a comprehensive assessment of an organization’s adherence to the PCI security standards.
• Purpose: To verify that the organization has implemented necessary controls and security measures to protect sensitive cardholder data.
• Frequency: Typically conducted annually, but the frequency may vary based on the organization’s level and risk profile.
• Audit Steps:
• Pre-engagement:
• Determine the scope of the audit.
• Engage with a Qualified Security Assessor (QSA) or an Internal Security Assessor (ISA).
• Pre-onsite:
• Conduct an initial gap assessment to ensure readiness.
• Clarify requirements and expectations.
• Onsite:
• Validate and document compliance during the audit.
• Address any identified gaps or issues.
• Post-onsite:
• Collaborate on remediation steps.
• Prepare the Report on Compliance (ROC).
• Ongoing Support:
• Continuously monitor compliance.
• Seek guidance from QSAs when needed.

Key considerations for Procard LTD after audit:

• Risk Assessment: The company creates and uses a real system for evaluating threats and vulnerabilities.
• Policies and Procedures: Procard develops a strong foundation for compliance - information security policies and procedures and strongly follows all these rules in everyday business processes.
• Latest Standard: All of the staff stays informed about updates.
• Documentation: All documentation of Procard is maintained with accurate records.
• Qualified Assessors: The company prefers to work with QSAs or ISAs.