The world is moving towards a cashless economy with debit and credit cards being the preferred mode of payments over cash. The number of transactions processed by the card industry is growing significantly, and so is the concern for the security of payments and cardholder’s information. As a result, Payment Card Industry (PCI) compliance laws are put in place to reduce the risk of debit and credit card data loss. PCI compliance solutions include consulting and remediation solutions that help to fulfill the Payment Card Industry Data Security Standard (PCI DSS) and other requirements of organizations. PCI compliance solutions are used across industries such as BFSI, manufacturing, technology, media and entertainment, construction, healthcare, and retail. However, the rapid increase in adoption of digital payments modes within the e-commerce industry is driving the demand for PCI compliance solutions. The procurement market intelligence report for global PCI compliance solutions market forecast a CAGR of 7.3% for the period 2017-2022.
Verizon is an American telecommunication conglomerate and the largest wireless communication service provider in the US. The key services offered by Verizon includes wireless communications, mobility, internet of things, IT solutions and cloud, and business communications. Verizon’s PCI compliance solutions help clients to understand the requirements that affect business, avoid common pitfalls that increase risk, and navigate the road to compliance. In 2017, Verizon released a Payment Security Report, which demonstrated the correlation between organizations PCI compliance standard and their ability to defend themselves against cyber attacks.
AT&T provides network, cybersecurity, and mobility services to businesses. The company provides services and solutions to end-user industries such as finance, healthcare, retail, hospitality, consumer goods, and transportation. AT&T offers a robust suite of solutions for PCI compliance including consulting, managed security, strong authentication, and project planning and management services. Here are some of the detailed solutions offered by the company:
|Build and maintain a secure network||· AT&T Consulting Firewall Assessment Services|
· AT&T Managed Security Services
· AT&T Managed Firewall Service
|Protect cardholder data||· AT&T Encryption Services|
· AT&T VPN Services
· AT&T Web Security Services
|Maintain a vulnerability management program||· AT&T Endpoint Security Services|
· AT&T Managed Endpoint Security
· AT&T Consulting Application Services
|Implement strong access control measures||· AT&T Token Authentication|
· AT&T Consulting Secure Network Integration
· AT&T Managed Hosting
|Regularly monitor and test networks||· AT&T Internet Protect|
· AT&T Security Event & Threat Analysis
· AT&T Security Device Management
Cisco manufactures and sells networking hardware equipment and telecommunications equipment. It also provides solutions to ensure compliance with standards such as PCI and HIPAA. The company is also a member of the PCI Board of Advisors, Technical Working Groups, and DSS Special Interest Groups. On June 26, 2017, Cisco announced new training and developer programs for its 28,000 networking professionals at the company’s annual user conference to accelerate the adoption of internet-based networking.
IBM is one of the oldest technology company that provides hardware, software, and middleware apart from hosting services in areas such as mainframe computers and nanotechnology. The company offers a range of services for businesses including cloud services, business consulting, financing, analytics, unified communication services, and compliance services. Recently, IBM announced that it is teaming up with Toronto-based FinTech company, Dream Payments to generate new revenue streams from mobile payment solutions. The partnership has allowed Dream Payments to maintain bank-grade security, scale its cloud infrastructure, and improve PCI compliance and data sovereignty.
Trustwave Holdings in an American company that offers solutions to help organizations fight cybercrime, protect data, and reduce security risks. The company caters to industries such as education, restaurants, payment services, financial services, retail, and government. The company offers around-the-clock support, a full suite of PCI services, access to world-class PCI experts, and security portfolio that enables compliance. In 2017, the company was named the best PCI compliance provider for the second year in a row at the CNP Expo held in Orlando, Florida.
Read more about the top vendors in the PCI compliance solutions market along with pricing models, procurement best practices, supply market insights, and category management in SpendEdge’s upcoming report on the global PCI compliance solutions market.