MagicCube, the creator of the Software Trusted Execution Environment platform, has joined the PCI Security Standards Council, an organization leading global efforts to improve payment security through the provision of industry-driven data security standards and programs.
As a participating member MagicCube will assist with standards development and work with more than 800 organizations to improve global payment security through the development of the PCI Data Security Standard, an actionable framework for developing a robust payment card data security process that prevents, detects and mitigates criminal attacks and breaches.
“It is extremely important for us to join the council and work with their representatives on upcoming versions of the PCI Security Standards, especially the software-based PIN entry on mPOS requirements which we believe will be pivotal for our industry,” MagicCube cofounder and CEO and Sam Shawki said.
“MagicCube is focused on solving the challenge of securing IoT devices, a category that includes mobile devices, POS systems, and autonomous cars. In particular, securing the man-machine interface to allow for secure screen input is where our unique approach of providing hardware-grade security via software is already starting to disrupt the dominance of chip-based solutions.”
“In an era of increasingly sophisticated attacks on systems, PCI Security Standards and resources help organizations secure payment data and prevent, detect and mitigate attacks that can lead to costly data breaches,” PCI Security Standards Council COO Mauro Lance said.
“By joining as a Participating Organization, MagicCube demonstrates they are playing an active part in improving payment security globally by helping drive awareness and adoption of PCI Security Standards.”
MagicCube will be at Money20/20 where they will show how the MC-Shield product line secures tokenization, POS and PIN-on-Glass and autonomous cars.