DNV GL awards 1-Net Singapore Payment Card Industry Data Security Standard Compliance

DNV GL awards 1-Net Singapore
Payment Card Industry Data Security Standard Compliance

1-Net looking to secure customers’ data in the PCI DSS compliant data center environment

Mr. Wong Ka Vin, Managing Director of 1-Net Singapore Pte Ltd

SINGAPORE, 3rd APRIL 2017
 - 1-Net Singapore today announced that it has attained Payment Card Industry Data Security Standard (PCI DSS) Compliance through DNV GL - Business Assurance, the world's largest classification and accreditation society. Established by the five major card brands: VISA, Master Card, American Express, Discover and JCB, the PCI DSS standards are technical and operational requirements set by the PCI Security Standards Council[1] to address vulnerabilities in credit card payments and protect credit cardholder data. Compliance with such industry standards ensures payment information is secured when processed, stored or transmitted by organisations that handle these credit cards.

Singapore is now poised to overtake the US and Europe as a major Fintech Hub, as stated in a recent Association of Chartered Certified Accountants (ACCA)’s report[2]. With 1-Net Singapore’s data centers compliant with PCI DSS, existing and potential customers from the e-Payments, FinTech and Cloud Services industries will now have higher confidence and assurance that their underlying digital infrastructure and value chain are secured when handling credit card transactions, enabling them to focus on growing their core businesses with a secured backend infrastructure.

“We are proud that 1-Net’s data centers in the North and East have attained PCI DSS compliance, which provides  additional assurance to our customers, particularly for those in the financial sectors. With our Government’s dedication to making Singapore a worldwide Fintech Hub, the Fintech industry is set up to thrive in the next few years and payment security will be an essential issue that companies must address. By obtaining PCI DSS compliance, 1-Net is committed to providing a business-secure data center environment that is in line with the Monetary Authority of Singapore’s Technology Risk Management Guidelines. Such quality assurance in digital security will give our customers the confidence to take advantage of the ongoing technological transformations that is sweeping across the Fintech scene,” said Mr. Wong Ka Vin, Managing Director of 1-Net Singapore Pte Ltd.

Mr. Percy Lakdawalla, Vice President, Regional Manager for Asia Pacific from DNV GL – Business Assurance, commented “We would like to congratulate 1-Net Singapore on their attainment of PCI DSS compliance for their data center. We look forward to partnering with them for their future assessment needs.”

[1] The PCI Security Standards Council is a global forum for the ongoing development, enhancement, storage, dissemination and implementation of security standards for account data protection. https://www.pcisecuritystandards.org/
[2] Fintech – Transforming Finance Report by Association of Chartered Certified Accountants released on 28 September 2016.  http://www.accaglobal.com/content/dam/ACCA_Global/Technical/Future/FinTech-transforming-finance.pdf

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