ALTR announced that its blockchain-based data-security platform has received the highest industry rating attainable for payment data security with Payment Card Industry (PCI) certification.
ALTR has been granted Level 1 Service Provider accreditation, for version 3.2.1 of the Payment Card Industry Data Security Standard (PCI DSS). PCI compliance is the payment security standard that applies to every entity that processes, stores, or transmits credit card information. Designed to ensure the security of transactions and protect cardholders against fraud and misuse of their personal information, the standards were defined and are maintained by the PCI Security Standards Council whose founding members include American Express, Discover Financial Services, JCB International, MasterCard, and Visa.
The ALTR data security platform, which is the first and only blockchain-based technology of its kind to achieve PCI DSS compliance, can be seamlessly connected to existing enterprise networks for practical, scalable cybersecurity. It is based on a patent-issued private blockchain model that enforces data governance policy, protects stored data from forced access and provides detailed intelligence about an organization’s data-access needs and habits.
PCI certification provides merchants with a consistent data security protocol which is comprised of 12 discrete requirements. The designation follows an independent assessment conducted by UHY LLP a PCI-certified Qualified Security Assessor Company (QSAC), which determined that ALTR’s technology meets the rigorous controls defined under the program for storing, processing, and transmitting cardholder information.
“As data breaches continue to threaten brands, reputations, and bottom lines in more sophisticated and malicious ways, PCI DSS compliance demonstrates that ALTR’s data-security platform is able to address risk in tight alignment with the most important aspects of payment-data protection, monitoring, and governance,” commented Richard Peters, principal at UHY. “ALTR’s seasoned, security-first minded team operates well above the certification bar making compliance a streamlined process for technology being certified for the first time.”
“With the ever-changing threats to data, we have an obligation to provide assurances that ALTR is a trusted partner in maintaining the highest standards of information security and integrity.” said Dave Sikora, CEO at ALTR. “Achievement of PCI certification underscores our technical and organizational commitment to the data privacy and security concerns of retailers, payment processors, and consumers.”
ALTR is the first software company to unleash the cybersecurity benefits of blockchain for the enterprise. The ALTR platform, based on ALTR’s proprietary ALTRchain technology, restores digital trust to organizations by fundamentally changing the way valuable data is monitored, accessed and stored. It is simple to deploy and easy for both technical and non-technical business stakeholders to use, providing them with an intrinsic view and control over the inner data-environment of an organization including how sensitive data assets are used or seen and by whom. The company, which holds 17 issued patents and has dozens more pending, is based in Austin.