GM Security Technologies and Visa collaborate to promote payment security in Latin America and the Caribbean

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Oct 11, 2019, 08:00 ET

SAN JUAN, Puerto Rico and MIAMI and SANTIAGO, Chile, Oct. 11, 2019 /PRNewswire/ -- GM Security Technologies (GMST), a global leader in cybersecurity, and Visa, the global technology payments company, announced today that they will work together to accelerate the adoption of secure, compliant and trustworthy digital payment eco-systems in Latin America and the Caribbean. The companies will be hosting a regional roadshow to educate issuers, merchants, acquires, and third party processors (TPP) around the region on the importance of Payment Card Industry Data Security Standard (PCI DSS) compliance validation solutions, cybersecurity enablement and payment security training.

PCI DSS ongoing compliance is a requirement for all organizations that store, process and/or transmit payment card information. Visa is a founding member of the PCI SSC (Payment Card Industry Security Standards Council) along with other major payment card brands.

The work with Visa bolsters GMST's leadership in the payment security field, underpinned by the companies working together to accelerate the adoption of safe, reliable and compliant digital payment models for consumers and merchants. Now, issuing, acquiring and TPP institutions will have more access to Cybersecurity and Fraud Prevention subject matter expertise, tools and techniques, which can lower operational costs and improve security. Merchants and Fintechs will also benefit from the GMST state-of-the-art security as a service toolset improving efficiency, control and choice, which together will help drive increased sales.

Together the companies are launching the PaySec Day roadshow across major cities in Latin America and the Caribbean throughout the year. The PaySec Day initiative is designed as a thought leadership and educational forum building awareness on PCI DSS Compliance and digital risk management work streams. The PaySec Day series kicks off in Santiago de Chile on October 9, 2019 – followed by more cities later this year through 2020.

"Working with GM Security Technologies, we believe we can offer our clients a simplified path to Cybersecurity enablement and PCI DSS compliance validation," said Eduardo Perez, SVP & Regional Risk Officer for Visa Latin America and the Caribbean. "We are delighted to be working closely with GMST, a leader in payment card security compliance and digital risk management."

"We are excited to begin a new chapter with Visa, providing a framework for our companies to work together enabling and securing the digital payment landscape across all vectors of the model" said Héctor Guillermo Martínez, President GM Security Technologies. "GMST Digital Risk and Compliance suite is specifically geared to help businesses understand and achieve PCI DSS compliance and strengthening their cybersecurity posture."

About GM Security Technologies
GM Security Technologies offers innovative solutions and services in cybersecurity, governance, and compliance focused on managing digital risk. Its solutions are designed to detect advanced attacks and respond to them effectively, reducing business risk, fraud, and cybercrime. Founded in 1970 as General Computer Corporation and later as GM Group in the 1990s, GM Security Technologies has an extensive track record and experience in the management of policies and integrated processes of technologies and standards for data protection in payment system risk. Its commitment to the principles of simplicity, innovation and customer success has made them the leading and fastest growing provider of security and technology in Latin America and the Caribbean.To learn more about GM Security Technologies, visit our website: www.gmsectec.com

About Visa Inc.
Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

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SOURCE GM Security Technologies