MagicCube Becomes a PCI Principal Participating Org to Help Drive the Future of Global Payment Security

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Jan 16, 2023, 07:14 ET

— As Council's Newest Principal Participating Organization, MagicCube will help shape the direction of PCI SSC—

NEW YORK, Jan. 16, 2023 /PRNewswire/ -- MagicCube, the company that created the Software Defined Trust (SDT) category and developed i-Accept the soft POS payment solution is excited to announce today that it is now a PCI Security Standards Council (PCI SSC) Principal Participating Organization. MagicCube will help drive security of the future of global payment experiences with a strategic level of leadership, participation, and influence within the Council and the ecosystem.

MagicCube became the only independent Tap-to-Phone / SoftPos vendor to join the PCI Security Standards Council's Board of Advisors a year ago.

PCI SSC leads the global effort to increase payment security by providing flexible, industry-driven, and effective data security standards and programs to support new experiences for the purpose of wider inclusion and adoption. Global industry collaboration is critical to this mission. The Council's Participating Organizations program brings together industry leaders to strategize about how to protect payment data from the emerging threats and to anticipate the needs of an ever-changing payment ecosystem.

In this new role as a Principal Participating Organization, MagicCube will work within PCI to contribute to the strategic direction, technical discussions, and build consensus for the support of the Council's new and progressive initiatives.

"Every day, companies and organizations across the globe face an ever-changing payment landscape with new and evolved threats attacking to their systems, and data," said Lance Johnson, Executive Director of the PCI Security Standards Council. "By joining as a Principal Participating Organization, MagicCube will have a significant impact on how PCI SSC helps them address these challenges especially the direction and development of PCI Security Standards and resources that help organizations prevent, detect, and mitigate attacks on global payment data."

"We are proud of our participation in many of the council's effort, especially our contribution to the MPoC standard for Tap to Pay and soft POS to" said Nancy Zayed, CTO of MagicCube. "Now that we will play a significantly bigger strategic role, we are humbled and excited to push innovative software security technologies designed to be on par with hardware-based security, yet with the ease, practicality, and agility of software."

About the PCI Security Standards Council

The PCI Security Standards Council (PCI SSC) leads a global, cross-industry effort to increase payment security by providing industry-driven, flexible and effective data security standards and programs that help businesses detect, mitigate and prevent cyberattacks and breaches. Connect with the PCI SSC on LinkedIn. Join the conversation on Twitter @PCISSC. Subscribe to the PCI Perspectives Blog.

About MagicCube

MagicCube leads the Software Defined Trust (SDT) category with its software-based, virtual Trusted Execution Environment (vTEE) platform. The technology enables secure, large-scale deployment and management of Internet of Things (IoT) and mobile solutions to consumers. MagicCube was awarded the first recognition of a software-based Trusted Execution Environment issued by EMVCo, the global consortium which facilitates worldwide interoperability and acceptance of secure payment transactions. MagicCube has been named by Network World's one of the "10 Hot IoT Startups to Watch", listed as a Cool Vendor in Security and Risk Management by Gartner, and is the only startup to sit on the board of the PCI Security Standards Council. Investors in MagicCube include Mosaik Partners, Shift4, Bold Capital, Epic Ventures, ID Tech, Sony Innovation Fund, and Visa, among others. For more information, visit www.magiccube.co or follow us on Twitter @MAGIC3INC.

SOURCE MagicCube