Unbound and AIS Selected by MC Payment for PCI-DSS Compliance
Contract Signifies the Importance of an MPC Enabled Cryptographic Security Strategy in Financial Markets
Unbound Security, the leader in cryptographic key management security solutions announced that it has been awarded a contract with Indonesian financial services firm MC Payment. MC Payment is a leading Indonesian Payment Gateway and merchant service company which facilitates payment collection for commercial transactions between suppliers, merchants, and end users.
“Since launching our partnership with Unbound we have been able to enhance our own compliance capabilities and how they can support existing customers,” said Armand Widjaja, chief executive officer at Akar Inti Teknologi Group. “We knew that MC Payment was undergoing a PCI-DSS compliance process and responded immediately with our combined offering. Unbound’s technology is being used to protect the encryption keys that payment platforms use to communicate with each other and to protect customer’s personally identifiable information (PII) that is shared between providers.”
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Unbound was aligned with MC Payment through their strategic partner, Akar Inti Secure (AIS), a leading Indonesia-based software house that specializes in providing best-in-class technology solutions for Indonesian businesses. AIS and Unbound entered a partnership in late 2020, in a joint effort to enable enterprise-class organizations and global corporations to accelerate their pace of digital innovation through a seamless, tech-enabling Design-Build-Operate approach. Through AIS, MC Payment and Unbound will explore the opportunity of deploying the latter’s MPC-based security solutions to meet PCI-DSS compliance standards.
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PCI-DSS (Payment Card Industry Data Security Standard) is the information security standard which is used to protect and secure client credit card data. Compliance requirements for PCI are complex, with twelve distinct criteria; these include, among other things, various mechanisms to protect cardholder data via firewalls, passwords, encryption, and other methods. Common hurdles include costs and the difficulties of securing sensitive client data across multiple clouds, data centers, and offline storage facilities.
“AIS’s involvement was critical for our connection and relationship we have developed with MC Payment,” Rocco Donnino, vice president of strategic alliances at Unbound, stated. “We are grateful for the opportunities to partner with institutions in Indonesia and across the APAC region, and we view AIS as the epicenter of the APAC financial ecosystem.”