VN firm gets latest Payment Card Industry Data Security Standard certification

Achieving the Payment Card Industry Data Security Standard version 4.0 certification would give MoMo’s users extra peace of mind. — Photo courtesy of MoMo

HCM CITY — Local unicorn MoMo has become the first fintech company in Việt Nam to receive the Payment Card Industry Data Security Standard version 4.0 certification, the latest major version of the payment card industry standard globally.

PCI DSS helps increase authentication layers, thus protecting customer information and transaction data as they are encrypted based on the most modern security standards.

PCI DSS v 4.0 is the most major PCI compliance update since the release of version 3.0 in 2014.

Thái Trí Hùng, deputy general director and chief technology officer of MoMo, said achieving the certification is a testament to his company’s capabilities and commitment to maintaining the highest standards of security in the industry.

In 2016, MoMo was one of the few payment intermediaries to achieve the PCI DSS – Service Provider level 1 certification, the most stringent PCI compliance level and applicable to large businesses that process six million credit card transactions annually. 

PCI DSS is a set of security standards established by the PCI Security Standards Council that includes Visa, MasterCard, American Express, Discover Financial Services, and JCB International to help protect cardholder data and sensitive authentication data wherever it is processed, stored or transmitted.

To receive this certification, service providers must test their network infrastructure every month and undergo annual security audits by the council. — VNS