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Big five credit card companies form PCI security council

September 12, 2006

CNet News:American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International announced Sept. 7 the creation of an organization to develop and maintain security standards for credit and debit card payments. It's the first time the five brands have agreed on a single, common framework. The newly formedPayment Card International Security Standards Councilwill manage the PCI Data Security Standard for merchants, payment processors, point-of-sale vendors, financial institutions and more than a billion cardholders worldwide.