Fairbit Achieved PCI DSS Certification For SoftPOS

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April 15 2021 California: Fairbit, a California-based solution provider of SoftPOS and EMV Level 2 kernel on the cloud, has announced that it has received PCI DSS certification (PCI DSS Version 3.2.1) for the “EMV Kernel-on-the-Cloud” product. PCI certification marks a significant milestone for SoftPOS as a service on the cloud.

SoftPOS is a revolutionary new technology that enables merchants to accept EMV payment transactions on their Android phones without any additional software. Fairbit offers SoftPOS solutions for merchants, acquirers, payfacs, and other solution providers in the U.S and global market.

The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle branded credit cards from major card schemes. The standard ensures that all companies that process, store, or transmit credit card information maintain a secure environment to reduce credit card fraud. The PCI Standard is mandated by the card brands but administered by the Payment Card Industry Security Standards Council. PCI DSS applies to debit, credit, and prepaid cards that are branded with the logo of one of the five partners in PCI SSC. The five partners are Visa, MasterCard, Discover, American Express, and JCB International.

Conducted by independent third-party Cyberensure, LLC, Fairbit SoftPOS cloud demonstrates compliance with all PCI DSS requirements applicable to a Service Provider. The solution enables customers to run EMV contactless payment transactions using Fairbit’s PCI-compliant Cloud services.

Getting PCI DSS certification ensures secure processing of card data on Fairbit cloud. Without the protection that PCI compliance brings, merchants and payment service providers could be vulnerable to attacks and data breaches.

EMV Kernel-on-the-Cloud is managed via Google Cloud Services and is based on the Kubernetes container platform. Merchant interfaces are provided via secure internet connections. Once a transaction is performed with an EMV card, the EMV terminal passes EMV payment data to the cloud-based EMV kernel service via internet protocol. EMV kernel performs EMV transaction processing. Upon completion, the results of the transaction are returned to the merchant’s POS. The full content of any track (from the magnetic stripe located on the back of a card, comparable data contained on a chip, or elsewhere) is not stored after authorization. The personal identification number (PIN) or the encrypted PIN block is not stored either.

Ozgur Altuntas, managing director at Fairbit, commented that “As data breaches continue to make the headlines, customers are becoming increasingly concerned about the privacy of their data. Reassuring our customers that we have implemented the necessary safeguards will go a long way in improving our brand’s reputation and thus win more business. Fairbit is continuing to invest in providing services to help our customers more easily meet their security and compliance needs. “

Fairbit is also a holder of the Visa Ready Tap-To-Phone certification, becoming one of the first companies globally getting this certification with EMV Level 2 kernel on the cloud.

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