PARIS - Monext France (formerly Experian), a pioneer of e-commerce transactions, has entrusted Verizon Business Security Solutions to help the company's online bank-payment processing system meet industry standards for protecting confidential data.
Verizon Business provides professional services support and expertise to obtain Payment Card Industry Data Security Standard (PCI DSS) certification for Monext's processing system, Payline.
Monext is a major provider of secure electronic transaction solutions for French banking and financial organizations and employs more than 400 people. Payline, Monext's secure online payment solution, was one of the first of its kind on the market, and now handles more than 5 million transactions each month for a variety of high-profile French and international banks, e-commerce organizations and retailers.
The PCI DSS initiative was established in 2004 to combat credit card misuse and fraud, and compliance is now obligatory for all global companies that collect, process or store credit card data. E-commerce companies, traders or service providers undergo a quarterly audit of their IT Infrastructure by an external auditor; noncompliance results in high fines and greater business-transaction fees.
For Monext, PCI DSS-compliant services and architectures are absolutely business-critical in order to be able to deliver proactive protection of valuable confidential data and support the company's corporate reputation. As a result, Monext needed a supplier with which it could build a long-term relationship - it does not view security as a one-hit approach, but rather as a key element of its ongoing business strategy.
Ludovic Denis, president of Monext, said: "Our security requirements are constantly evolving, so we needed a supplier who was able to offer us evolving and fully up-to-date expertise of both general security issues and the specifics of the certification process. The Verizon Business Security Solutions team has demonstrated a keen understanding of our local needs in the context of global issues, and has the local support capabilities and the strategic vision we need to help support our future business goals. By working with them, we have not only achieved our compliance goal, but also improved the overall efficiency of our daily business activities."
Toufic Daaboul, PCI-DSS development manager for Verizon Business, said: "Companies like Monext need a security services provider that can provide a holistic approach to PCI-DSS compliance, combining consulting and technical support with implementation and service capabilities. Verizon Business' strong expertise in the security market, combined with the company's global presence and demonstrable track record, gave Monext the peace of mind it required in choosing a security partner."
Monext is working with the Verizon Business Security Solutions' team on several other projects over the next coming year.
With more than 2 million bank cards, 3 million transport cards and 3 million privates cards (oil company, retail) operated every day by his/her 400 employees, that is to say more than 550 million recorded transactions, MONEXT is a major actor of the electronic payment in France. Its vocation is to facilitate the transactions of electronic payment, with or without card, on the sales points, Internet or mobile phone, in secure mode, reliable and immediate.
MONEXT, which develops for its bank customers, the retail and the trade of the innovating solutions, wants for the next three years to triple its turnover, by internal growth or external, and to impose themselves like one of the leaders, in Europe, of a sector in strong growth. For more information, visit www.monext.fr
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a global leader in communications and IT solutions. We combine professional expertise with the world's most connected IP network to deliver award-winning communications, IT, information security and network solutions. We securely connect today's extended enterprises of widespread and mobile customers, partners, suppliers and employees - enabling them to increase productivity and efficiency and help preserve the environment. Many of the world's largest businesses and governments - including 96 percent of the Fortune 1000 and thousands of government agencies and educational institutions - rely on our professional and managed services and network technologies to accelerate their business. Find out more at www.verizonbusiness.com.