Fintech provider Quavo Fraud & Disputes has announced their completion and renewal of the 3.2.1 version of the Payment Card Industry Data Security Standard (PCI DSS) Requirements and Security Assessment Procedures.
Quavo initially “achieved its PCI DSS Version 3.2.1 certification in August of 2021.”
Attaining this renewal emphasizes Quavo’s commitment to security and compliance, confirming that “all required standards set by the PCI council were maintained throughout the evaluation period.” The announcement comes “as part of Quavo’s dedication to executing the significance of client security and safety.”
COO and Co-Founder David Chmielewski said:
“PCI renewal versus the initial completion means that our team has continued to exemplify procedures to safeguard sensitive card information set by the PCI council for an entire year. It’s a huge accomplishment for the team and something I am very proud of. It is hard to achieve and maintain PCI compliance, and I appreciate our team being diligent about this.”
This year, the Quavo infrastructure team “dedicated time to upholding the standards set by PCI DSS v3.2.1.”
As of November 2022, Quavo received validation “that the company demonstrated continuous compliance under PCI DSS v3.2.1 and obtained a renewal accreditation.” Quavo’s presence on The Visa Global Registry of Service Providers (the Registry) is “directly related to the company’s ongoing commitment to PCI compliance.”
Nick Facca, Quavo’s Director of Technology, detailed the magnitude of following the instituted procedures throughout the audit period.
“Last year, we established ourselves as PCI compliant; with the renewal, we have set the standard that PCI compliance stands as Quavo’s baseline data security.”
Looking to the future, Quavo will continue “to work towards renewing its SOC 2 Type 2 certification and make strides in completing PCI DSS v4.0 requirements by 2024.”
As noted in the update, Quavo, Inc. is “a fintech provider of industry-leading, automated dispute management solutions to issuing financial institutions.”
Quavo’s Disputes as a Service™ offering “features automated software, automated intelligence technology, and human intelligence services for financial organizations of all sizes.”
Their goal is “to establish and advance the industry standard in fraud and dispute management by instituting best-in-class principles, delivering unparalleled technology, and advocating for change in our community.”
They aim to “offer full, end-to-end automation software for managing fraud and disputes, supported with complete Reg E, Reg Z, Nacha compliance, and network mandates.”
Quavo’s offering “includes QFD™ automated dispute management software, ARIA™ fraud management automated intelligence, and Dispute Resolution Experts™ human intelligence services.”
Quavo believes in “providing a supportive and collaborative environment where the best financial and tech minds work together to drive client success, providing groundbreaking dispute management software and solutions. Learn more online.”