Persolvo Data Systems Achieves PCI DSS Compliance

Irvine, Calif. – Persolvo Data Systems, a leading provider of web-based settlement software and analytics tools designed to identify and settle accounts enrolled in debt settlement programs, has achieved compliance with the Payment Card Industry Data Security Standards (PCI DSS) for its latest product release – CONCERTO 3.0.

According to the PCI DSS Council, “The PCI DSS is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures.”

PCI DSS was created by the five founding global payment brands – American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa Inc. – to facilitate the broad adoption of a set of consistent data security measures on a global basis that would protect sensitive consumer account data.

As a result of the recent regulation of the debt settlement industry by the FTC that took effect in 2010, debt settlement companies now find themselves facing greater scrutiny and oversight in the way that they operate.  Debt settlement companies have a fiduciary responsibility to secure and protect their clients’ cardholder data and other sensitive personal information, like social security numbers provided upon enrollment.  As of September 30, 2010, failure to secure this sensitive data resulting in a breach could result in fines up to $500,000 per calendar year.

Jeff Dickey, EVP of Marketing, stated, “The achievement of this globally-recognized data security standard further demonstrates Persolvo’s market-leading position and commitment to the security of our clients’ sensitive data. The adoption and certification of these data security standards and practices will allow Persolvo to rapidly expand our portfolio of clients, including major card issuers, debt buyers and collection agencies that desire a solution that leverages the newly regulated debt settlement industry and increases their collections and recoveries.”

About Persolvo Data Systems
Persolvo Data Systems is the first patent-pending system to aggregate account information on debtors enrolled in debt relief programs with leading debt settlement companies and law firms. Persolvo’s web-based settlement application allows creditors and collectors to locate debtors enrolled in debt settlement programs, analyze their account information to uncover highly-liquid settlement opportunities, and settle large numbers of accounts online with hundreds of debt settlement companies using Persolvo’s hosted settlement application. The Persolvo system is the largest database of aggregated debt settlement accounts available today and provides the most accurate and up-to-date information, including settlement savings balances, on debtors enrolled in debt settlement programs. For more information, visit our website at http://www.persolvodatasystems.com.

Persolvo: Latin Verb – to unloose, explain, expound/pay off a debt, pay.