PCI's Strategic Focus: New Milestones in India's Digital Payment Security

The PCI Security Standards Council has intensified its focus on India's fast-growing digital payments landscape, as detailed in their latest annual report. The introduction of the India-South Asia Regional Engagement Board signals a significant collaboration, enhancing payment security standards with local insights and addressing unique regional challenges.

The PCI Security Standards Council (PCI SSC) is escalating its efforts in India and South Asia, reflecting significant developments in the rapidly growing digital payments ecosystem. According to its latest annual report, the Council has launched the India-South Asia Regional Engagement Board (REB) to tailor global payment security standards to regional needs.

The establishment of the India-South REB marks a critical step in localizing security standards, offering Indian and South Asian companies a direct channel to influence future PCI standards. The board, comprising major players like NPCI, HDFC Bank, and Google, will provide vital input on regional risks and emerging fraud trends.

Executive Director Gina Gobeyn emphasized the importance of global collaboration as transaction volumes surge. The Council's report highlights the introduction of artificial intelligence guidance and expanded training in mobile and e-commerce payment security. These efforts aim to fortify payment environments as the landscape becomes increasingly complex with advancing technologies.

(With inputs from agencies.)