TORONTO, June 11 /CNW/ - Teranet Inc. is pleased to announce today that
it has successfully been validated as a fully compliant service provider with
the Payment Card Industry (PCI) Data Security Standard (DSS).
"Security is our top priority and embracing controls that protect online
credit card transactions are in the best interest of our clients and our
company," said Mike Sliwinski, Vice-President, Information Services at
Teranet received this designation by fulfilling twelve comprehensive
requirements designed to protect credit card security, card holder data, and
"The sophisticated processes we already had in place made the auditing
experience go quickly and smoothly," Sliwinski said.
Online payment services for parking and speeding tickets as well as
hospital bills and other Teranet online services are all fully compliant with
the stringent PCI DSS requirements.
By providing PCI-compliant eServices to governments and hospitals,
Teranet shields its clients from the complexity and cost of meeting PCI DSS
About the PCI Security Standards Council
The PCI Security Standards Council is an open global forum founded by
American Express, Discover Financial Services, JCB, MasterCard Worldwide, and
The mission of the PCI Security Standards Council is to enhance payment
account security by fostering broad adoption of the PCI Data Security Standard
and other standards that increase payment data security.
About Teranet Income Fund and Teranet
Teranet Income Fund is an unincorporated, open-ended trust established
under the laws of Ontario by way of a declaration of trust. The Fund was
created to indirectly acquire all of the outstanding shares of Teranet Inc.
The units of the Fund trade on the Toronto Stock Exchange under the symbol
Teranet is a leading provider of integrated land-based information
products and services. Teranet operates in Ontario and provides access to the
Ontario Electronic Land Registration System ("ELRS") through its proprietary
application, Teraview(R) software. This product enables customers to conduct
electronic registrations as well as title and writ searches relating to real
property. Teranet has the exclusive right to access the data in and operate
the ELRS and the Writs of Execution database, and create and market
value-added products and services in connection with the ELRS and writs until
March 31, 2017. These licences extend on a non-exclusive basis in perpetuity
for the ELRS and until 2047 for writs. Teranet has leveraged its core
capabilities to create electronic service offerings in complementary
information and e-commerce areas.
This news release contains statements that, other than statements of
historical fact, may be forward-looking statements about the objectives,
financial condition and results of operations of the Fund. These statements
are forward-looking and reflect management's current views and are based on
certain assumptions and expectations as of March 29, 2007. Actual results
could be materially different from expectations if known or unknown risks
affect the business, or if estimates or assumptions turn out to be inaccurate.
No forward-looking statement is a guarantee of future results. Investors are
cautioned not to place undue reliance on such forward-looking statements.
Forward-looking statements do not take into account the effect that
transactions or non-recurring items announced or occurring after the
statements are made may have on the business. Teranet disclaims any intention
or obligation to update any forward-looking statement even if new information
becomes available, as a result of future events or for any other reason. These
statements are subject to a number of risks described in the Risks and
Uncertainties section of the MD&A, which is available at www.sedar.com. Risks
and Uncertainties may cause actual results to differ materially from those
contained in forward-looking statements.
For further information:
For further information: Bonnie Foster, Vice President Corporate
Communications, (416) 643-1095, firstname.lastname@example.org, www.teranet.ca; 1
Adelaide Street East, Suite 600, Toronto, Ontario, M5C 2V9, Canada, Phone
(416) 360-5263, www.teranet.ca