Retail in Asia

In Trends

Woolworths wins seat on PCI SSC board of advisors, 1st time for Asian retailer

Australian supermarket group Woolworths has won a seat on the Payment Card Industry Security Standards Council (PCI SSC) board of advisors, the first time a retailer in Asia has been represented on the board of the global standards body, according to PCI SSC.

PCI SSC on Friday announced the results of elections for the PCI SSC board of advisors, a cross-industry group chartered by the council to ensure global stakeholder representation in the ongoing development of PCI Security Standards. Founded in September 2006, the PCI SSC is a global industry standards body which establishes technical standards for the payment card industry.

Elected by the council’s more than 600 participating organisations – including merchants, financial institutions and processors from around the world – the 2011-2013 PCI board of advisors will provide strategic and technical guidance to the PCI Security Standards Council that reflects the varied and unique industry perspectives of those across the payment chain. In addition to advising on standards development, the board of advisors plays a critical role in soliciting feedback and ideas, leading special interest groups; and helping the council fulfill its mission to raise awareness and adoption of PCI Standards.

More than 76 organisations from across the payment industry were nominated for their direct experience and leadership in the field. The 21 seats were distributed within the categories of: Financial Institutions; Merchants; Processors; Vendors, and Others (industry associations, etc), with 14 organisations elected by their peers in the PCI SSC participating organisations member base and 7 seats appointed by the PCI SSC Executive Council to ensure broad and equal representation.

Aside from Woolworths, the new board of advisors include Barclaycard, British Airways, Cartes Bancaires, Cielo, Cisco, Citi, Disney, European Payments Council, First Data Corporation, Heartland Payment Systems, Ingenico, International Air Transport Association, JPMorgan Chase & Co, McDonald’s, PayPal, RSA, Tesco Stores Limited, TSYS, VeriFone Systems, Inc. and Wal-Mart Stores, Inc.

The new board will kick off its work in June with its first face-to-face meeting with council management. As the council prepares for the annual community meetings, the board will be instrumental in this forum for engaging stakeholders to discuss and provide input on their implementation of the newest versions of the PCI Security Standards. Additionally, the board will play a leadership role in driving the first formal feedback period in the current lifecycle beginning in November, working with participating organisations to solicit their feedback for the ongoing enhancement of the standards.

(Source: PCI Security Standards Council)