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AUSTIN, TX (July 31, 2007)—NetSpend, one of the premier providers of prepaid solutions in the United States, announced that it passed a second annual security audit by VeriSign Global Security Consultants to achieve compliance with VISA's and MasterCard's requirements for participation in their financial networks.
"NetSpend has committed itself to securing our systems and protecting customer data and we are pleased that VeriSign has recognized our efforts," said Steve Fussell, NetSpend's chief technology officer. "In fact, we agreed to collaborate, at VeriSign's invitation, in producing and publishing a case study as an example of good practices for the implementation of PCI.from the perspective of a prepaid card processor and program manager"
The case study is available at www.verisign.com.
Fussell said NetSpend's security prowess is attributable to its people, processes and technology. The company's security team has more than 25 years of combined information security experience and possesses several certifications of expertise, including Certified Information Systems Security Professional Certification, Global Information Assurance Certification, Certified Intrusion Analyst, GIAC Certified Incident Handler, GIAC Certified Forensic Analyst and EC-Council Certified Security Analyst certification.
NetSpend has assembled a comprehensive and robust approach to information security. It has over 35 different policy documents and uses in excess of twenty different software tools to manage its overall information security processes.
"We asked NetSpend to work with us in developing our case study because VeriSign believes NetSpend's security program is worthy of emulation by other companies readying themselves for the Payment Cards Industry assessment required by VISA and MasterCard," said Branden R. Williams, CISSP, CISM, senior consulting manager, PCI practice lead, VeriSign. "For instance, because of NetSpend's preparation, an audit that could have taken three weeks was completed in only four days. NetSpend is the first prepaid debit card marketer and processor we have profiled in this way."
About NetSpend Corporation
NetSpend Corporation is one of the leading providers of prepaid debit cards in the United States. A pioneer in the industry since its inception in 1999, NetSpend prepaid debit cards give financial freedom and convenience to the more than 100 million underbanked consumers in the United States. NetSpend is the only company in the prepaid debit industry to offer an end-to-end solution for consumers and merchants with a proprietary processing platform, card fulfillment, customer service and risk management capabilities. More information about the company can be found at http://www.netspend.com or by following the company on Facebook or Twitter.
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN), operates digital infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Additional news and information about the company is available at www.verisign.com.
Media Relations
Members of the media may contact NetSpend's public relations department via email at mediarelations@netspend.com.
Cardholders may contact Customer Service at customerservice@netspend.com.
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