VANCOUVER, Feb. 23 /CNW/ - Monexa (http://www.monexa.com), the leader in flexible subscription billing, announces the company's re-certification as a Service Provider Level One PCI Compliant (https://www.pcisecuritystandards.org/security_standards/pci_dss.shtml) vendor by the Payment Card Industry (PCI) Security Standards Council (https://www.pcisecuritystandards.org/). For e-commerce companies wanting to avoid on-premise PCI compliance costs that can run into millions of dollars, Monexa's certified credit card storage facility provides the needed security as a certified web-based service at a fraction of the cost.
"As a level one PCI Compliant service provider, we insulate our customers from the difficult, expensive requirements of PCI certification (http://searchsecurity.techtarget.com/news/article/0,289142,sid14_gci1265353,00.html) and ensure that their businesses will operate safely and according to the highest standards possible," explains John Jacobson, President and CEO of Monexa.
Although many vendors claim compliance, very few are certified as a PCI level one service provider, the level required to handle payment data for other companies. Outsourcing subscription management and billing to a level one compliant SaaS Billing partner reduces the risk of security breach and drastically simplifies the otherwise lengthy, complex and costly process of PCI certification (http://blog.elementps.com/element_payment_solutions/2009/02/pci-compliance-costs.html).
PCI is a multifaceted security standard (http://www.monexa.com/index.php/pci-compliancy.html) that includes requirements for security management, policies, procedures, network architecture and software design. PCI level one standards incorporate all aspects of handling sensitive credit card data. Security measures mandated under PCI protect Monexa's customers against lost transactions and penalties incurred through fraudulent activity or technical malfunctions (credit card fraud, identity theft, unsecured networks, internet viruses etc.).
"The significant time, effort and costs Monexa incurs to maintain the highest level of PCI Compliance means our customers don't have to go through the process of certification themselves. We are seeing fewer and fewer companies considering building their own subscription billing system as they come to understand the complexity and security risks of doing it themselves. It makes much more sense for them to focus on building their core business," explains Kevin Lennox, Vice President, Sales at Monexa.
PCI requirements for data security were developed by the founding payment brands of the PCI Security Standards Council, including American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc.
Monexa offers a flexible on-demand subscription billing solution that provides a scalable environment for expediting the launch of products, services and applications online. This accelerates our customers' time to market and revenue return.
Monexa pioneered the on-demand subscription billing space and has worked with hundreds of businesses to help monetize their services. Having the most capable and open subscription billing solution in the cloud, combined with proven billing industry expertise, sets Monexa apart from other service providers. Monexa's customers range in size from high growth SaaS and Cloud Infrastructure companies like Untangle and ActiveState to large household name companies like AOL Canada, Sprint, Amway and Bell Mobility. For more information visit http://www.monexa.com.
This news release contains forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties, including changes in financial and product market conditions. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements, other than as may be required by applicable law.
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SOURCE MONEXA TECHNOLOGIES CORP.
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