Bellevue, WA, July 18, 2012 – G2, the recognized leader in e-commerce risk management, today announced its enhanced Service Provider, Sentinel, offering a combination of technology, accelerated human analysis, and G2’s proprietary merchant map that enables acquiring banks to more quickly address and mitigate the growing risk of unregistered service providers. Service providers are entities that offer services to merchants that may control or impact the security of cardholder data. Acquiring banks often do not know which service providers their merchants are using, whether they are secure, or if they are properly registered with the card networks. All of these factors pose great risk to acquiring banks for costly and brand-damaging data breaches and account data compromise.
G2 is accelerating its investment in technology enhancements to its Service Provider Sentinel offering (SP Sentinel), formerly named PCI2. SP Sentinel simplifies the difficult process of identifying service providers used by every merchant in an acquirer’s portfolio, ranks the risk level of each merchant based on their potential for cardholder data breach risk, and drives service provider registration with the card networks. To date, G2 has identified close to 10,000 service providers for its clients, and this list will grow even faster with these new enhancements. With these additional development efforts, G2 will be able to mitigate acquirers’ service provider risk even more quickly and thoroughly through enhanced identification and streamlined service provider management.
G2’s third-party service provider identification and registration efforts to date have provided current SP Sentinel clients an avenue to comply with recent card network rules that have been put in place to address this growing problem. For example, Visa Europe has mandated that all their members identify and register their merchants’ service providers (also referred to as “merchant agents”) by January 1, 2013 or risk receiving assessments for every unregistered service provider. MasterCard has also established the Service Provider Registration Facilitator (SPRF) program to assist its customers in complying with MasterCard rules related to identifying and registering all of their merchants’ service providers. G2 is a registered MasterCard SPRF and helps its clients stay compliant with these rules.
To reinforce their commitment to addressing this area of industry risk and to help drive service provider education and compliance, G2 has joined the PCI Security Standards Council, which is responsible for the development and management of the PCI Data Security Standard (PCI DSS). By joining as a participating organization, G2 will have the ability to play an active part in mitigating threats and improving the security of the payment chain globally by driving security standards to higher levels of adoption and strength.
“The enhancements to SP Sentinel are a significant step toward solving the payment industry problem of unsecure and unregistered service providers,” said Jen Mack, VP of Business Development at G2 Web Services, LLC. “G2 is excited about SP Sentinel and very committed to the industry, and we feel these combined efforts will further protect our clients from third-party risk, as well as enable new users to better identify and mitigate hidden third-party risk in their merchant portfolios.”
G2 is the recognized leader in merchant compliance monitoring and e-commerce risk management. G2 works globally with acquiring banks, independent sales organizations (ISOs), payment service providers (PSPs) and other acquiring value chain members to identify, mitigate and monitor risk posed by their merchants’ online presences.
By monitoring millions of merchant websites worldwide and collecting billions of data artifacts, G2 has built the industry’s largest e-commerce relationship map that provides a comprehensive and global view of e-commerce across the entire industry. From analyzing the risk involved with boarding a new merchant, to third-party and account data compromise (ADC) risk mitigation, to the regular review of website content for compliance violations, G2 provides a comprehensive set of tools and services to effectively manage risk throughout the entire merchant lifecycle.