Radiant Systems' Investments in Credit Card Security Validated as 'Best Practices'
Independent auditor reviewed convenience store POS under Visa's Cardholder Information Security Program
ATLANTA (August 24, 2006) – Radiant Systems, Inc. (NASDAQ: RADS) announces that the latest version of its convenience store point of sale has achieved validation for Payment Applications Best Practices (PABP) under Visa’s Cardholder Information Security Program (CISP) after a review of the system by independent auditor AmbironTrustWave, Inc.
Convenience and petroleum retailers using Radiant Point of Sale can have confidence that the system has been independently verified and that it meets the most stringent industry guidelines for protecting credit cardholder information. In an effort to prevent incidents of fraud and credit card data theft, Visa's CISP program defines industry best practices for security of cardholder data and includes requirements for encryption and storing of that data by payment applications, such as point-of-sale systems. Radiant Point of Sale is among the first convenience store applications to achieve validation under the program.
“Protecting the consumers’ card data is the shared responsibility of retailers, card processors and payment systems providers,” said Mark Schoen, president of Radiant’s global petroleum and convenience retail division. “Radiant is committed to working with our clients and partners to ensure that together we can provide these assurances to the consumer.”
”Radiant Point of Sale is not only safe, but also the fastest solution in the industry,” said Mike Finley, vice president, global product marketing of Radiant’s global petroleum and convenience retail division. “With less innovative point-of-sale providers, increased security and encryption can be detrimental to speed of service. But we’ve invested in a generation of products that improves both speed and security at the same time.”
The Radiant Convenience Store Point of Sale is the latest software application in the Radiant product line to achieve PABP validation under Visa’s CISP program
Company Information
Radiant Systems, Inc. (www.radiantsystems.com) is a leader in providing innovative technology to the hospitality and retail industries. Offering unmatched reliability and ease of use, Radiant's hardware and software products have been deployed in over 60,000 sites across more than 100 countries. Radiant has approximately 900 employees worldwide, 325 certified sales and service partners and over 1800 field service representatives. Founded in 1985, the company is headquartered in Atlanta with regional offices throughout the United States as well as in Europe, Asia and Australia.
Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; including the ability to integrate the operations of acquired businesses; (iii) the Company’s growth strategy and operating strategy; (iv) the Company’s new or future product offerings, and (v) the declaration and payment of dividends. The words “may,” “would,” “could,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” “plans,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company’s reliance on a small number of customers for a larger portion of its revenues, fluctuations in its quarterly results, ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company’s filings with the Securities and Exchange Commission.
