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Outsourcing Review: PCI Data Security Standards for Mobile Payments

by Andrew J. Schlidt, posted Monday, June 18, 2012 12:00 AM

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The mobile payment industry is exploding and the framework of regulations governing mobile payments is evolving at a similar speed. Gartner, Inc. projects that worldwide mobile payment transaction values will surpass $617 billion and 448 million users by 2016. In recognition of the revolution in mobile payment solutions, on May 16, 2012, the PCI Data Security Standards Council published guidance on best practices for securely accepting payments via mobile devices – “At a Glance: Mobile Payment Acceptance Security.”  
 
Merchants that accept credit card payments through participating brands such as American Express, Discover, MasterCard, and Visa are required to implement security programs in compliance with the PCI Data Security Standards. All merchants engaged in mobile payment acceptance are well-advised to review this newly released guidance for compliance with PCI Data Security Standards in the context of mobile payments. 
 
Outsourcing Review provides commentary on legal developments affecting companies engaged in technology outsourcing (ITO) or business process outsourcing (BPO).
 
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