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Element Unveils Hosted Payments |
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Element Payment Services, Inc. has launched Hosted Payments; a payment solution that removes software vendors from the scope of Payment Application Data Security Standards (PA-DSS) (PABP), by shifting the responsibility of handling sensitive cardholder data to Element. With Hosted Payments, the software vendor’s application is responsible for collecting all of the non-sensitive data needed to perform a payment transaction, while Element collects, stores, processes and transmits all sensitive cardholder data. Software vendors not only avoid the hassle and cost of achieving PA-DSS (PABP) compliance, but because the Hosted Payments solution is integrated with Element’s PCI DSS compliant Express Processing Platform, software providers, merchants and consumers receive the highest level of protection from cardholder data compromises. Sean Kramer, CEO of Element says, “Our innovative Hosted Payments solution offers software vendors an alternative to PA-DSS (PABP) compliance that alleviates their cost burden, reduces their risk, and enables them to give their customers a completely secure, reliable payment application.”
Hosted Payments was developed for software application vendors that sell, distribute or license applications that facilitate electronic payments in response to the recently established PA-DSS (PABP), requirements. PA-DSS (PABP), aims to eliminate the use of vulnerable payment application and ensure a secure environment for accepting cardholder data. As of July 2008, Visa Net Processors can no longer certify any new applications that are not PA-DSS (PABP) compliant and validated by a Payment Application Qualified Security Assessor (PA-QSA); and as of October 1, 2008, newly boarded level 3 and level 4 merchants will have to either be PCI DSS compliant or use PA-DSS (PABP) compliant software. With these very aggressive deadlines to enforce compliance, software vendors are being driven to devote an inordinate amount of time and expense to meet these mandates. Element offers an alternative to PA-DSS validation through Hosted Payments, eliminating the need to achieve and maintain PA-DSS (PABP) compliance.
Element is offering two options for Hosted Payments, including a version for distributed applications as well as Web based software applications. Both solutions seamlessly integrate with all types of business management software applications. Alternatively, for software providers who have had their applications PA-DSS (PABP) validated, Element also offers a fully integrated solution which eliminates third party software that can lead to security risk, added costs and multiple points of failure in the payments chain. For more information about Element’s Hosted Payments solution and complete suite of products, visit www.elementps.com .
About Element Payment Services
Headquartered in Phoenix, Arizona, Element Payment Services Inc. provides integrated transaction processing solutions to merchants through partnership with leading business management software providers. Engineered using service-oriented architecture, Element’s Express Processing Platform allows for easy integration and supports credit and debit card, ACH and check solutions for its merchants. Processing $4 billion in annual transaction volume, Element’s secure, innovative and reliable payment solutions allow its customers to easily comply with industry security requirements such as PCI DSS, PA-DSS (PABP), significantly reducing the risk of a cardholder data breach. For more information, visit www.elementps.com . |
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