Green Dot Selects Vormetric to Secure Customer Data and Support Compliance Standards
Vormetric Data Protection and Encryption Solutions to Protect Cardholder Data and Support Adherence to Payment Card Industry (PCI) Requirements
BERKELEY, CA - October 10, 2006 - Retail Data Security Forum -- Vormetric, a leading provider of security solutions for protecting sensitive data from unauthorized access, announced today that Green Dot Corporation, America's leading provider of prepaid credit and debit cards and owner and operator of the Green Dot® Financial Network, has selected Vormetric's Data Protection Products to help protect sensitive cardholder data and enable compliance with PCI requirements. Vormetric's product was selected because it can be implemented quickly, is easy to use, and won't impact Green Dot network operations.
The PCI Data Security Standard is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. This comprehensive standard is intended to help organizations proactively protect customer account data. Implemented in late 2004, the standard has been adopted by all major payment card brands including Visa, MasterCard, American Express, Diners Club, and Discover.
Green Dot Corporation announced Sept 27, 2006 that the company successfully passed the rigorous standards and compliance audit as directed by the PCI DSS organization. The comprehensive audit, which encompassed over 200 requirements, validated that Green Dot Corporation is in full compliance with the stringent new industry-wide security standard and, as such, is following best practices for protecting highly sensitive cardholder account and transactional data.
Green Dot Corporation is America's leading provider of prepaid cards, with tens of thousands of retail locations nationwide selling its products. It is also the owner of the Green Dot® Financial Network, the largest domestic cash-acceptance network of its kind offering prepaid card reloading and other cash collection services to America's leading banks and financial services companies.
About Green Dot Corporation
Green Dot Corporation is America's first and largest provider of prepaid cards sold at tens of thousands of locations across the United States, including Rite Aid, CVS Pharmacy, RadioShack, and Walgreens. Green Dot Visa and MasterCard reloadable prepaid products offer customers the convenience of a debit card without the need for a credit check or bank account. The company also operates the Green Dot® Financial Network, among the nation's largest retail financial networks. The extensive network provides cash acceptance services such as prepaid card reloading and remittance cash collection at tens of thousands of locations. Privately held Green Dot is headquartered in Monrovia, Calif. Major investors include Sequoia Capital of Menlo Park, California and Total Technology Ventures, an affiliate of Synovus. For more information, visit www.greendotcorp.com.
Vormetric is the leader in data security management and enforcement solutions. Vormetric Data Security provides a centrally managed, high performance, easy-toimplement, distributed solution that solves the pressing compliance, security and risk management challenges facing today’s enterprises and government agencies. Vormetric’s application- and database-transparent solution outperforms other offerings to provide stronger and broader data security at a fraction of the management and implementation cost.
Vormetric’s more than 230 customers represent the world’s most trusted brands in financial services, retail, manufacturing, healthcare, media, energy and telecom industries as well as highly security conscious government agencies.
Vormetric technology has received strong market validation for its innovative approach to data security, including:
- Selection by IBM as the core database encryption solution for DB2 and Informix on LinuxTM, Unix® and Windows
- Computerworld Technology Innovation Award
- Selection by Symantec to provide the Symantec Veritas NetBackupTM Media Server Encryption Option
- Partnership with Oracle to secure the execution environment for Oracle® Database Vault
- Five patents issued and nine patents pending
Vormetric is a trademark of Vormetric, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.