LAS VEGAS -- Island Pacific 2005 Annual User Conference -- nuBridges, LLC and Island Pacific Inc. unveiled a partnership here today that delivers immediate relief for retailers struggling to meet the mandates of the payment card industry (PCI) for higher data protection. The alliance links one of the industry's most widely deployed solutions for managing operations with advanced technology for safeguarding sensitive financial transactions and data exchanges to ensure that customer credit card information is secure.
Together, nuBridges and Island Pacific deliver a robust PCI solution for securely managing all customer data from the beginning of a transaction at the POS system to the end of a transaction of securing settlements and encrypting tape backups. In addition to meeting PCI protocols, the partnership gives retailers a single source for an enterprise security solution that allows them to assure customers that information captured during transactions is protected and will not get into the wrong hands.
"Our customers are very focused on preventing identity theft and trust us to find the most advanced solution," said Barry Schechter, CEO of Island Pacific. "We believe that nuBridges is clearly the best and most knowledgeable in the market; our partnership gives retailers what they need to keep consumer information safe, sound and in the right hands -- an important part of creating customer loyalty."
Island Pacific is a leader in retail merchandising, store operations, CRM, and multi-channel software, providing solutions to over 55,000 retail stores worldwide. The company delivers comprehensive, scalable and flexible solutions to solve retailer's daily challenges involving merchandising, inventory management, point-of-sale data, customer relationship management, and loss prevention.
"Encrypting and securing customer data is a 'must have' for any retailer," said Rich Brown, Vice President of eBusiness Solutions, nuBridges. "With Island Pacific, we give retailers a fast track to meeting the constantly evolving responsibilities for protecting customer information -- an issue that has plagued many retailers in recent years."
Hefty Price Tag for Non-Compliance
Earlier this year, Visa rolled out an aggressive strategy for ensuring compliance with the PCI data security standards, tacking on fines of up to $500,000 per incident for retailers who fail to put stringent processes in place plus $200,000 for not reporting it to USA Fraud. Leading credit card companies, including MasterCard and Visa are increasingly putting the cost burden for breaches back onto retailers, leaving these companies scrambling to implement infrastructure and solutions that can mitigate fraud losses and operational expenses resulting from card data theft.
nuBridges' truExchange PCI Secure was first to market with a solution that helps retailers meet these standards and deliver peace of mind for customers, by securing, encrypting, transporting and storing cardholders' personal data. Tapping the flexibility and cost-effectiveness of the truExchange eBusiness platform, truExchange PCI Secure delivers the industry's fastest and easiest implementation for securing critical information.