ISO 9564-1 for personal PIN security has been updated. The new 4th Edition is available from Document Center Inc. in paper format, for pdf download and as part of our enterprise cloud solution, Standards Online. The full title of the standard is Financial services – Personal Identification Number (PIN) management and security – Part 1: Basic principles and requirements for PINs in card-based systems. The new 40-page update replaces the previous 3rd Edition with its Amendment 1, which is now obsolete.
Of course, we are all concerned these days with having our credit and debit cards compromised. A PIN (Personal Identification Number) system is one tool created for cardholder verification. Used correctly, it should be protected throughout the electronic funds transfer (EFT) cycle. When we use cards that depend on PINs, we are unaware of the process that actually completes the transaction. However, there are a number of discrete steps that all involve the use and protection of our PIN and other confidential information.
The ISO 9564-1 provides financial technology firms with the requirements for sound key management in these types of transactions. And it also includes requirements for proper management of PIN information. It is specifically designed for use in the retail banking industry and those institutions that partner with those banks to convey customer card information.
As to the updates in the new 4th Edition, the committee notes that the revision is a technical update. However, further guidance is not provided. I do want to mention that the ISO 9564-1 has been adopted by the European Union and that the 2017 Edition of EN ISO 9564-1 is now released.
Compliance with this standard will be essential for the industry. Breaches of banking information create not only financial losses, but also the loss of consumer confidence. No institution should find itself out of compliance with the best practices that the 4th Edition of ISO 9564-1 represents.
That’s where Document Center Inc. comes in. As an authorized distributor of the ISO standards, we can supply you with copies of the latest editions in a format that best suits your needs. And all purchases come with our “best-in-class” notification service, so you’ll always know when your standards are updated.
Use our webstore www.document-center.com to search for and order the standards you need. Here is a direct link to the order page for ISO 9564-1 for your convenience. We also have a number of other support services to aid your document control function. To learn more, check in with our staff by phone (650-591-7600) or email (firstname.lastname@example.org). Learn why so many companies make us their Standards Experts!