Leading Prepaid Card Company Green Dot Corporation Meets Rigorous New Industry-Wide Security Standards for Protecting Sensitive Cardholder Data
Posted on: Wednesday, 27 September 2006, 09:00 CDT
MONROVIA, Calif., Sept. 27 /PRNewswire/ -- Green Dot Corporation, the nation's first and largest provider of retailer-sold prepaid cards and operator of the Green Dot(R) Financial Network, today announced it has successfully completed its first Payment Card Industry (PCI) Data Security Standard audit. The comprehensive audit, which encompassed over 200 requirements, validated that Green Dot Corporation is in full compliance with the stringent new industry-wide security standard and, as such, is following best practices for protecting highly sensitive cardholder account and transactional data.
To pass the PCI Data Security Standard audit, Green Dot was required to meet the following information security mandates:
* Build and maintain a secure network * Protect cardholder data * Maintain a vulnerability management program * Implement strong access control measures * Regularly monitor and test networks * Maintain an information security policy
The PCI Data Security Standard is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. This comprehensive standard is intended to help organizations proactively protect customer account data. Implemented in late 2004, the standard has been adopted by all major payment card brands including Visa, MasterCard, American Express, Diners Club, and Discover.
"There's no question the hard work that went into preparing for the rigorous PCI audit has made Green Dot a better, more secure prepaid card company today," said Mark Goldin, Chief Information Officer and EVP Operations for Green Dot. "The industry will always be reacting to outside threats toward consumers and we consider it a top priority to protect our customers as much as we possibly can."
About Green Dot Corporation
Green Dot Corporation is America's first and largest provider of prepaid cards sold at tens of thousands of locations across the United States, including Rite Aid, CVS Pharmacy, RadioShack, and Walgreens. Green Dot Visa and MasterCard reloadable prepaid products offer customers the convenience of a debit card without the need for a credit check or bank account. The company also operates the Green Dot(R) Financial Network, among the nation's largest retail financial networks. The extensive network provides cash acceptance services such as prepaid card reloading and remittance cash collection at tens of thousands of locations. Privately-held Green Dot is headquartered in Monrovia, Calif. Major investors include Sequoia Capital of Menlo Park, California and Total Technology Ventures, an affiliate of Synovus. Green Dot cards are issued by Columbus Bank and Trust Company in Columbus, GA. For more information, visit http://www.greendotcorp.com/.
Media Contact: Liz Youngs CommStrat 843-971-7140 office liz@commstrat.net
Green Dot Corporation
CONTACT: Liz Youngs of CommStrat, +1-843-971-7140, liz@commstrat.net,for Green Dot Corporation
Web site: http; //http://www.greendotcorp.com/
Source: PRNewswire
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