First Ukrainian Software Product Certified by VISA

Released on = November 16, 2006, 8:23 am

Press Release Author = TechnoPark Corp.

Industry = Software

Press Release Summary = The first Ukrainian company was found to be compliant
against PCI Data Security Standards. In October, software developed by the Ukrainian
outsourcing company TechnoPark Corp. was certified by VISA.

Press Release Body = TechnoPark Corp. is the first Ukrainian IT company to get the
certificate of compliance against PCI DSS. The certified software is mobile payment
system MPPS. It was developed by TechnoPark for the Maltese MPPS Solutions Ltd.

PCI Data Security Standards were produced in late 90s by VISA, MasterCard and all
other leading credit card companies. Payment Card Industry Data Security Standard is
the unified world standard for handling and keeping cardholder data aiming to stamp
out debit and credit card fraud, by introducing strict security standards.

The importance of introduction of this list of requirements is obvious because of
the ever-growing number of thefts and illegal accesses to confidential data of
cardholders. In fact, PCI DSS is a list of requirements for handling and keeping
personal information of payment system's clients. Without a doubt, the standard can
never fight off the problem back and edge, but the results prove that it really
works: according to statistics, no PCI DSS compliant system has been compromised
yet.

Unfortunately, only 20% of all payment systems in the world have been certified by
now. Among them, there is only one mobile payment processor; with its certification,
MPPS has become the second PCI DSS compliant mobile payment system in the world.

MPPS is mobile payment processing system enabling its users to pay for goods and
services using only their mobile phones. Like other mobile payment systems, MPPS
needs to gather and store its customers' information which includes personal and
confidential data. It makes such systems to focus on protection and security of the
gathered information. Data security is even more important task in the light of
vigorous growth of this young but very prospective industry. High profits make
mobile payment industry an attractive target for fraudsters' attacks.

The PCI Data Security Standards are not an obligatory condition of payment systems
operation. Nevertheless, VISA strongly encourages all online payment service
providers to go through the certification. PCI DSS requirements cover mostly the
piece of software, which operates the system, as this is the crucial factor
providing the service's reliability. Thus, software developer is responsible for PCI
DSS compliance.

Software for MPPS was developed by the Ukrainian TechnoPark Corp. The company,
together with MPPS Solutions Ltd.'s Management, passed through the certification
procedures.

MPPS applied for the certification in August 2006. In September, the first stage of
the certification was held - so called Onsite Audit. Onsite Audit is the audit held
in the company's office. MPPS software as well as documentation were checked and
examined by representatives of the British One Sec Ltd. which is the official VISA's
auditor. The process took several days. The first-stage examination provided a list
of comments and needed improvements which had to be implemented during a month.

The second stage - Last Clean Scan - was the final examination resulting in overall
decision. It was held in October, and the certificate for MPPS was issued on
October, 31. Now the company can guarantee high reliability and security of its
services to both clients and partners.


PCI Data Security Standards have been used for more than 5 years, however there are
very few PCI DSS compliant Eastern European software companies focused on online
payments. Despite many of them are able to offer high-quality products, most IT
companies are frustrated by the great efforts, both intellectual and financial,
needed to complete the certification. Good news is that some outsourcing software
development companies have already realized that the game was worth the candle. With
the availability of reliable developers, risk of outsourcing online-payment projects
to Ukraine decreases.

The Ukrainian software product's PCI DSS compliance is an important achievement for
the whole Ukrainian IT outsourcing industry. TechnoPark Corp. has made the first
step towards changing the image of Ukrainian IT products from "cheap staff" to
"high-quality and reliable software products".

TechnoPark Corp. is outsourcing software development company with headquarters in
the USA, Naples, Florida, and software development center in Ukraine,
Dnepropetrovsk. Development of software for online payment systems (including mobile
payments) is one of the company's core focuses.

The Certificate of Compliance is available on TechnoPark Corp.'s web site at
http://www.technoparkcorp.com/content/view/71/40/lang,en/.


Contacts
TechnoPark Corp.
http://www.technoparkcorp.com
salesdept@technoparkcorp.com



Web Site = http://www.technoparkcorp.com

Contact Details = 568, 9th Street, South Suite 202
Naples, Florida 34102
United States of America
tel (239) 243 0206
fax (239) 236 0738

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