NePS elected to PCI SSC Board of Advisors

Kathmandu, June 7

Nepal Electronic Payment Systems Ltd (NePS) has been elected to Payment Card Industry Security Standards Council (PCI SSC)’s Board of Advisor.

PCI SSC is a global forum that brings together payments industry stakeholders to develop and drive adoption of data security standards and resources for safe payments worldwide.

"NePS shall be the first ever organisation to represent Nepal in PCI SSC Board of Advisors. It will have the opportunity to present Nepal’s local perspective as well as disseminate information from the council to local fintech, payments and financial institutions in the country," the company informed in a statement on Wednesday.

NePS now joins global giants such as Amazon, Apple Inc, Bank of America, Barclays Bank, European Payment Council, HDFC Bank, IBM, JP Morgan, Microsoft, NPCI, PayPal among others to serve on the Advisory Board for 2023-2025 and contribute to set up and implement security standards for global payments industry.

It is nominated to the board from the financial organisation category from June 1, 2023.

International card networks like VISA, Mastercard have made PCI DSS certification mandatory. "NePS is proud to be selected in the advisory committee of the organisation, which was created with the aim of creating a safe business environment by covering the security of card transactions and the various cyber security issues that are being developed, and developing and implementing adequate data security standards including various stakeholders globally," said Sanjib Subba, Chief Executive Officer of the company.

In addition to playing a significant role in the development of standards related to data security in card transactions, the member organisations in the advisory committee also take the lead in making the standards up-to-date by presenting their respective market, geography and technical experiences in the development of the standards.

“We have taken this opportunity as a challenge to make the security of card transactions more agile and timely and to realise the vision of innovative and secure digital landscape in the payment sector,” said Subba.

NePS is an ISO 27001:2013 and PCI DSS Version 3.2.1 certified organisation, the membership of PCI SSC Advisory Committee will strengthen the trust of stakeholders towards the company, said NePS in a statement. 

 Published in The Rising Nepal daily on 8 June 2023.