Compass Plus is one of the few companies that has been accepted to be compliant with the Payment Application Data Security Standard (PA-DSS). In accordance to the PCI Security Standards Council (PCI SSC) website, only 11% of payment applications have received PA-DSS certification so far. The confirmation of TranzWare product suite, including the flagship products TranzWare CMS and TranzWare Online, achieving full validation with the PA-DSS was received on the 21 of September, 2009.
www.pcisecuritystandards.org

Visa has set a deadline of July 2010, by which all payment system participants must use PABP or PA-DSS compliant applications. All other software applications developed and sold by third parties will no longer be compatible with the Visa payment network. Compass Plus customers using TranzWare products worldwide will directly benefit from the PA-DSS compliance as it will simplify the procedure for achieving their own PCI DSS compliance that is also compulsory for all companies working with MasterCard and Visa and failure to do so will bring adverse consequences.

PA-DSS is a Council-managed program formerly under the supervision of the Visa Inc. program known as the Payment Application Best Practices (PABP). The goal of PA-DSS is to help software vendors and other related companies develop secure payment applications taking into account the PCI SSC requirements with regards to storage, processing and transferring payment card data (for example, CVV2 or PIN data). As a whole, these requirements facilitate changes in the software development and testing processes, thereby increasing the quality of payment applications.

Compass Plus worked with Trustwave Ltd. – a Qualified Security Assessor, in order to perform a PA-DSS assessment to determine the compliance of Compass Plus’ applications with the PCI Security Standards Council’s (PCI SSC) Payment Application Data Security Standard (PA-DSS) version 1.2.

Of the successful PA-DSS audit completion, Youri Koliakin CEO&P of Compass Plus said: "PA-DSS requirements for the developers of crucial electronic payment systems from a security point of view are dictated by time and are based on the financial industry’s recent history. Compass Plus have always made the security and reliability of its products and solutions the highest priority and our efforts in this field have resulted in the company being awarded the PA-DSS certificate. I want to take this opportunity to congratulate all Compass Plus employees, customers and partners. Also it should be noted that electronic payment system break-in methods are constantly improving, threats do not vanish but instead grow together with the development of payment systems and the increasing sophistication of payment software products. Therefore, following the established corporate culture of systematic approaches to problem solving, Compass Plus continues to maintain a high priority stance for the development of security, reliability and control in our products and solutions."

Trustwave is the leading provider of on-demand data security and payment card industry compliance management solutions to businesses and organizations throughout the world. Trustwave offers a wide range of security services to help businesses analyze and test current information security controls and, if necessary, provide guidance to remediate any deficiencies identified. With its security services, Trustwave helpes to secure data, optimize network assets and mitigate the risk of data loss through shortfalls in application security controls.
http://www.trustwave.com/

Exhibition: 26-28th August 2009
Location: Centro de Convenções Frei Caneca, Brazil

Congresso de Cartçõs e Crédito ao Consumidor C4 was held for the fifth time since its establishment in 2005. The exhibition is one of the most important and exclusive events in Brazil, where world class exhibitors, speakers and guests come together to discuss the new trends of the card industry. As an exhibitor, Compass Plus was proud to take part in this internationally acclaimed event.

Regional Sales Director for the LAC Region, Rafael Marinho said of the experience: “C4 Congresso proved to be one of the most productive shows of the year, the event generated a number of business opportunities for Compass Plus and we are already looking forward to attending again next year.”

17-19th November 2009
Paris-Nord Villepinte Exhibition Center, France

Cartes, the largest cards and payments technology exhibition in the world, is being held for 24th time since its establishment over two decades ago. Compass Plus is proud to take part in this internationally acclaimed event as an exhibitor for the 6th time.

Following on from the United States last year, Russia is the focus of CARTES & IDentification in 2009. As a key player within the Russian market and worldwide, Compass Plus is more than pleased to exhibit the innovative TranzWare™ payment solutions.

Our team will be available throughout the exhibiton and conference at stand 3 G 051 for one-on-one discussions, answers to queries and general consultations, and we look forward to meeting you.

Additional details on the exhibition can be found at www.cartes.com

The Annual International Conference - Retail Banking Business will take place in Yalta, Ukraine from 4th to 7th of October 2009.

Compass Plus is proud to be a sponsor and participant of this conference.

This year the conference is highly anticipated, gathering the main players of the market for discussions on the newest portfolio development strategies, the expansion of the customer base and improvements in efficiency. A distinctive feature of the conference is its focus on practice. Key topics this year are to include experience, ideas and forecasting from the leading banks: how to maintain, stabilise and provide effective growth in the retail banking market.

A Regional Director of Compass Plus, Andrey Chirkov will speak at the conference on 5th October at 2.30pm about the personification of remote banking services for private customers. We would like to welcome you to this presentation and hope that you will find the information of value in your business.

Compass Plus Limited and Vietnamese Joint-Stock Commercial Bank for Industry and Trade (VietinBank) have completed the first phase of their joint project to implement a financial switch, centralized card issuing and acquiring system.

VietinBank places a large emphasis on developing its retail business operations with heavy reliance on the latest technology to deliver an advanced and comprehensive range of banking products and services throughout Vietnam. VietinBank has found itself in a situation where the need to use and maintain the disparate systems that had once provided Bank with a competitive advantage, was fast becoming a significant burden and a big constraint in furthering business development.

VietinBank has set up a business strategy to catch up with the market, primarily looking to update cards issuing and acquiring systems, in order to rationalize these systems and reduce operational and management costs. This has led to that Compass Plus and its local JV partner SBD Corporation winning the tender to help bring VietinBank back up to competitive standards.

Under the contract resulting from the tender Vietinbank has acquired a comprehensive set of TranzWare products including TranzWare Online, TranzWare CMS (complete with revolving credit facility and other associated extensions), TranzWare Interchange, TranzWare Card Factory, TranzWare Fraud Analyzer.

The objective of the first project phase, which has just been successfully completed, was to migrate credit card issuing and POS acquiring to TranzWare from one of the incumbent systems. The project phase has also involved issuer and acquirer certification with Visa and MasterCard, as well as with BanknetVN, a degree of integration to VietinBank’s core banking system and to another of the incumbent systems that will be phased out over an extended period of time, integration to a number of national service providers (such as Electricity of Vietnam) and a host of other tasks of different magnitude and complexity.

Once some initial hurdles were negotiated, the project developed smoothly at an increasingly fast pace building up towards the completion of the first phase on 10th July when all of VietinBank’s credit card issuing and POS acquiring operations were successfully migrated to TranzWare.

The long-term objective of this project is to provide a single financial switch, centralized card issuing and acquiring system, that is fully integrated to service delivery channels and to VietinBank’s servers, including POS and ATM switching systems, issuing and acquiring systems for both credit cards and debit cards and other card services.

VietinBank was established in 1988 after separating from State Bank of Vietnam. Being one of the four largest State-owned commercial banks of Vietnam, VietinBank’s total assets account for over 20 percent of the market share of the whole Vietnamese banking system. VietinBank has built an extensive network of branches, transaction offices and other points of presence throughout the country, its ATM network comprises of some 800 units strategically deployed throughout 56 provinces and cities.
www.vietinbank.vn