Payment Data Systems, Inc. Meets Rigorous New Industry-wide Security Standards for Protecting Sensitive Cardholder Data
Company Successfully Completes Payment Card Industry (PCI) Data Security Standard Audit for Payment Service Providers
 
San Antonio, TX May 09, 2007 Payment Data Systems, Inc., (OTCBB: PYDS), an integrated electronic payments solutions provider, today announced it has successfully completed its Payment Card Industry (PCI) Data Security Standard audit. The comprehensive and highly detailed audit validated that Payment Data Systems, Inc. is in full compliance with the stringent new industry-wide security Level One standard for Service Providers and, as such, is following best practices for protecting highly sensitive cardholder account and transactional data.

To pass the PCI Data Security Standard audit, Payment Data Systems was required to meet the following information security mandates, which was defined by approximately 200 detailed requirements:

  • Protect Cardholder data;
  • Maintain an information security policy;
  • Implement strong access control measures;
  • Build and maintain a secure network;
  • Maintain a vulnerability management program;
  • Regularly monitor and test networks.

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®.

"We have become a stronger provider as a result of meeting these stringent compliance standards," said Ken Keller, Vice President of Information Technology for Payment Data. "We have always maintained high security standards in order to protect our clients' data against threats of intrusion and theft. By meeting these standards, we can assure our customers that we continue to utilize the highest security and best practices in place to protect their most sensitive financial information."

Louis Hoch, Payment Data's President and COO stated," We are pleased that our company has earned the highest level of PCI accreditation and that we are listed among the premier payment service providers."
 

About Payment Data Systems, Inc.

Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.

Payment Data is the owner of the electronic bill payment portal, http://www.billx.com, which has the ability to transmit payments to thousands of national billers.

Payment Data Systems Inc. (OTCBB: PYDS) is a registered ISO/MSP of MetaBank

Payment Data’s intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit and stored value cards.

For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at ir@paymentdata.com.
Payment Data Systems, Inc.
Michael Long
Chairman and CEO
phone: 210-249-4040
 
  
FORWARD-LOOKING STATEMENTS DISCLAIMER Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect, our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.