Today, Procard LTD successfully completed the first implementation project for its partner Concord Bank (Dnipro, Ukraine) in the International Payment System MasterCard. 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 MasterCard 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 in the National Bank of Ukraine and achieved the status of the Operator of payment infrastructure services of the National Bank of Ukraine.
Getting this status is the last step which finishing the preliminary stage of our startup. All registrations have been gotten, all restrictions have been taken into account and all requirements have been met.
Now Procard LTD starts its first implementation project in IPS for its first partner.
Today, Procard LTD finished its first PCI DSS audit. The independent auditing company Advantio Ltd. (Dublin, Ireland) confirms the compliance of Procard information infrastructure to requirements of PCI DSS version 3.1.
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.
Today, Procard LTD finished its activities for registration of the Data Center of the company in the International Payment System MasterCard. After a long and difficult process of the implementation the company obtained the status of MasterCard Service Provider (MSP) which means that Procard can be a third party processor for both issuers and acquirers of MasterCard.
As a result of the implementation project the new Bank-Net end-point appeared in the Procard data center. The end-point fully outfitted by server and telecommunication equipment of MasterCard and now accessible to serve Procard’s clients.
Getting MSP status allows Procard to serve its customers from Ukraine, Europe, Central Asia, Middle East and Northern Africa. That is the real opportunity to perform well in our business and to increase it fast and effectively.
Today, Procard LTD finished its activities for registration of the Data Center of the company in telecommunication, energy supply and security companies.
Newly built data center of the company have become the backbone of modern businesses, supporting critical operations, data storage, and communication.
The data center will play very important role in telecommunication, energy supply, and security sectors:
Telecommunications:
The data center will serve as the backbone for telecommunication networks.
It host critical infrastructure, including servers, switches, and routers.
The data center ensures seamless connectivity, efficient data transmission, and reliable communication services.
Security:
The data center stores and processes sensitive information related to security.
It supports surveillance systems, access control, and alarm monitoring.
The company will use data centers for secure data storage, threat detection, and incident response.
The registration process was difficult and the company successfully completed it by satisfying all the necessary requirements and procedures of all the necessary regulators.
Procard’s data center now satisfied the requirements of energy efficiency and sustainability. The company now provides the modern energy-efficient practices for data centers, such as using renewable energy sources and optimizing cooling systems. The data center equipment makes a minimal impact on the environment and uses modern ways to minimize it more.
The company uses all necessary security protocols for data centers, including physical security, access controls, and encryption. The PCI DSS audit will be the next step on this way.
Procard provides tight collaboration with telecommunication providers and sets all necessary equipment to organize the end-points of International Payment Systems.
So now, the company is ready to start its first implementation project.
