News

Today, Procard LTD successfully completed the implementation project for its partner Concord Bank (Dnipro, Ukraine) in the International Payment System Visa. Beginning from this date the project went live into production and a flow of both issuing and acquiring transactions of our partner have migrated to Procard processor.

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 Visa requirements.

Thus, our partner received the opportunity to use a modern service for its business.

Today, Procard LTD successfully completed the registration process for its Data Center within the International Payment System Visa. After a rigorous and challenging implementation journey, the company has been granted the esteemed status of a Visa Third Party Processor (TPP). This achievement signifies that Procard is now authorized to act as a third-party processor for both Visa issuers and acquirers.

As part of the implementation project, Procard established a new Visa-Net end-point within its data center. This end-point is fully equipped with server and telecommunication infrastructure provided by Visa, enabling seamless service delivery to Procard’s clients.

The TPP status opens up exciting opportunities for Procard. The company can now serve customers across Ukraine, Europe, Central Asia, the Middle East, and Northern Africa. This strategic advantage positions Procard for success, allowing it to enhance its business performance rapidly and effectively.

Today, Procard LTD finished its first audit of the National Bank of Ukraine. The auditing team of NBU confirms the compliance of Procard information infrastructure to requirements of NBU to an Operator of payment infrastructure of NBU.

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 all payment card projects which are oversighted by the National Bank of Ukraine.

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.

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.

Today, the first authorisations were processed by Procard’s data center. This is crucial for any company that wants to treat card payments transactions, whether it’s a small local business or a large corporation. 

That is the real start of the issuing and acquiring project for our partner Bank Concord in the International Payment System MasterCard.

Preliminary new MasterCard issuing and acquiring BINs of Bank Concord was setted up to the Procard processor and the transaction flow was successfully turned to our data center. The process has performed well and as a result the first records about successful financial transactions were posted to the books of the bank.

That has opened a new page of our history.