PCI DSS Level 1 Service Provider
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment.
The PCI DSS designates four levels of compliance based on transaction volume. VersaPay is certified as compliant under PCI DSS version 3.2 at Service Provider Level 1 (the highest volume of transactions – more than 6 million a year).
VersaPay completes an annual PCI DSS assessment using an approved Qualified Security Assessor (QSA). The auditor reviews VersaPay’s Information Security System, which includes validating the infrastructure, development, operations, management, support, and in-scope services.
Also known as SSAE 16 / ISAE 3402 / CSAE 3416, Service Organization Controls (SOC) 1 is a series of accounting reports undertaken by a service auditor to evaluate the internal controls at a service organization when they are likely to be relevant to customers’ internal control over financial reporting. VersaPay is recognized as a SOC 1 service provider.
The SOC 2 audit is an independent review of an organization’s controls, providing a definitive security assurance to help IT teams evaluate managed service providers. SOC2 allows service organizations to quantify their adherence to the Trust Service Principles (TSP) relevant to Security, Availability, Processing Integrity, Confidentiality or Privacy.
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