- Evervault secures Payment Card Industry Data Security Standard (PCI DSS) compliance.
- Encrypting with Evervault helps reduce companies’ PCI scope to the simplest method of validation.
- Evervault to help organizations secure and encrypt customer’s cardholder data bringing PCI DSS scope to its simplest form.
Evervault, a company working for simplifying encryption infrastructure for developers, announced it has successfully secured compliance with the Payment Card Industry Data Security Standard (PCI DSS), which implies how payment card data is secured and maintained.
Attempting to enhance its already rigorous security standards after achieving PCI DSS certification, Evervault is prepared to help organizations secure and encrypt their customer’s cardholder data bringing PCI DSS scope to its simplest form. This facilitates Evervault’s users to reduce a significant administrative responsibility while upgrading their data security by encrypting an added assurance layer.
Evervault, which is now a Level 2 Service Provider under PCI DSS, is in the process of obtaining Level 1 certification since it anticipates exceeding the Level 2 criteria following its broad launch.
As a Level 2 provider, Evervault can easily process or transmit up to 300,000 annual transactions each for MasterCard, VISA, and Discover, and about 2.5 million annual transactions for American Express.
TreeCard, an environmental fintech company, is Evervault’s first PCI DSS customer. The company makes sustainably-sourced debit cards and aims to put about 80% of profits toward responsible reforestation. TreeCard uses Evervault’s encryption services to secure cardholder data without managing encryption keys or configure crypto libraries.
Securing PCI DSS certification is Evervault’s first commitment to preventing data breaches in the payments and card industries. This accreditation follows Evervault’s compliance with the healthcare industry’s Health Insurance Portability and Accountability Act (HIPAA) and Service Organization Control (SOC) 2 Type II earlier this year.
Shane Curran, Founder of Evervault, said: “PCI DSS is one of the most important industry standards that ensures a baseline level of protection for consumers and helps reduce fraud and data breaches – but it can slow down companies heavily when they start building in the payments, banking and finance spaces. With our encryption infrastructure, we’re bolstering the baseline protection consumers have and making PCI compliance easy for developers and businesses – without them having to go through the arduous compliance process.”
Jamie Cox, CEO of TreeCard, said: “PCI DSS becomes a heavy burden for companies like us that process cardholder data. Encrypting with Evervault reduces our PCI scope to the simplest method of validation. This will save us time and give us peace of mind that we’re fully compliant while allowing us to focus on what matters most – getting more users and planting more trees.”