When the PCI Security Standards Council (PCI SSC) holds its election for Special Interest Groups (SIGS), it often provides a true window into the future of payment security. One could actually consider the outcome of the SIG elections a true crystal ball if you will.
Last year, for example, our experts participated in the PCI SIGs for point-to-point encryption and tokenization. We saw these technologies as reaching a tipping point in the hospitality, retail and lodging industries.
This year, the organization received 500 votes from more merchants, financial institutions, service providers and associations for the initiatives they want to prioritize in 2012, which included cloud computing, e-commerce security and risk assessment. All of which, are top of mind for merchants as online and mobile transactions become more prevalent.
In addition, PCI SSC received votes from many organizations outside of North America, showcasing how finding global payment security solutions will be a priority. Here’s what Jeremy King, European Director, PCI Security Standards Council, had to say in the PCI Council’s official press release:
“This is our first SIG election and I’m really pleased with the turnout, with a quarter of all of our Participating Organizations voting. Most impressively, a third of our votes came from outside North America showing that involvement in the Council’s activity and development of PCI Standards and resources to help secure the payment chain is truly a global endeavor. I’m looking forward to close collaboration between the Council and SIG membership.”
The SIGs have often resulted in guidance for interpreting and implementing the PCI Standards – in such areas as wireless security, EMV chip, point-to-point encryption and virtualized environments. So we will be offering our own opinions and watching with anticipation to see what they will recommend in these new areas.
And while there is no such thing as a real crystal ball, the SIG elections clearly provide a glimpse into the future of payments and PCI compliance.