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Table of Contents

Lead Story

Looking ahead, moving forward

News

Industry Update

Tie vote curtails online gambling amendment

Visa brings relief to the pump

Trillions predicted for self-service kiosks

Heartland crowned best in sales

Chase gives merchants a heads up

AmEx to get doozie of a settlement

Features

Scammers on the hook: Q&A with the FTC

PCI for the little guy

Understanding Credit Card Interchange Fees in
Card-Not-Present Environments

Michael E. Shatz

ISOMetrics:

Views

Selling on spouse power

Biff Matthews
CardWare International

Building business at the curb

Bulent Ozayaz
VeriFone

Placed any ATMs lately?

Ray Varcho
WRG Services Inc.

Exit portfolio, many offramps

Adam Atlas
Attorney at Law

Education

Street SmartsSM:
The sky is falling if you believe it is

Jason Felts
Advanced Merchant Services

Exit portfolio, many offramps

Adam Atlas
Attorney at Law

Merchants don't bail on added value

Christian Murray
Global eTelecom Inc.

Expert adviser: Value add incarnate

Daniel Wadleigh
Marketing Consultant

The corps of explosive growth

Curt Hensley
CSH Consulting

Change, a rewarding discomfort

Jeff Fortney
Clearent LLC

Exit portfolio, many offramps

Adam Atlas
Attorney at Law

Expert adviser: Value add incarnate

Daniel Wadleigh
Marketing Consultant

The corps of explosive growth

Curt Hensley
CSH Consulting

Change, a rewarding discomfort

Jeff Fortney
Clearent LLC

Company Profile

SIA Enterprises LLC

New Products

Swipe, print, done

P25-M Portable Thermal Receipt Printer
Blue Bamboo

Check ease in the back office

EZDeposit
Company: EZCheck

Inspiration

P-R-E-P that portfolio

Miscellaneous

POScript

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

July 14, 2008  •  Issue 08:07:01

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FirstLook
PCI for the little guy

Panoptic Security Logo

#h4 Panoptic Security Inc.

Tim Cranny, founder and CEO
Salt Lake Community College Miller Campus, MCPC Office 325
9750 South 300 West
Sandy, UT 84070
Fax: 801-957-5291
Phone: 801-362-8455
E-mail: tim.cranny@panopticsecurity.com
Web site: www.panopticsecurity.com

At the age of 24, Tim Cranny, founder and Chief Executive Officer of Panoptic Security Inc., began his professional life as a mathematics professor in Australia.

But after eight years, he wanted a change, one that would allow him to use his expertise in security technology and expert systems (computer applications performing tasks that would otherwise be carried out by human experts).

In 2004, he obtained a green card and moved to the United States. During his acclimation to U.S. culture, Cranny familiarized himself with the Payment Card Industry (PCI) Data Security Standard (DSS) and immediately recognized a problem area.

"I realized one of the problems with security is that it demands expertise of people who simply don't have it," he said.

"PCI compliance has been dreadful, especially with the smaller level 3 and 4 merchants who have almost a 'don't ask, don't tell' policy.

"But the security demands on even the smallest merchants have changed dramatically; no longer is it just the concern of large organizations."

Merchants, ISOs on the spot

In March 2008, Cranny launched Panoptic, a Web-based business designed specifically to address the security needs of small merchants, assist them in meeting compliance requirements, and guide them through completion of the PCI Standard Assessment Questionnaire (SAQ).

"Security is growing in scope and importance, which means these small merchants and ISOs are in the crosshairs," Cranny said.

"Many can't afford to have a security staff or even an IT [information technology] person. They are trying to build a portfolio and have neither the time nor the wherewithal to become PCI experts.

"At Panoptic we hold the hand of the merchant. We guide them through the entire process, complete their SAQs for them, and generate a detailed, customized remediation plan at no cost. If you fail any of the requirements, we then sell inexpensive packages to help you fix the problem. We try to keep costs low; use the word 'thousands,' and you've forever lost the small merchant."

PCI as a revenue source

Panoptic also makes PCI compliance a revenue source for ISOs, Cranny said. ISOs that send merchants to Panoptic for security solutions get 35 percent of the income generated from those referrals.

The company can also underwrite integrated risk assessments for ISOs; it shares 40 percent of that revenue with ISOs that refer those customers.

Cranny said he designed security technology that had not previously existed, allowing merchants to meet PCI requirements efficiently and thoroughly at a low cost.

He avoids a "cookie cutter" approach by tailoring security solutions to each specific merchant. And Panoptic provides its customers hands-on assistance should a security breach, audit or other data security issue arise.

"Small merchants can no longer ignore PCI and hope nothing bad happens," he said. "Going into a PCI audit without us is like walking into an IRS audit without an accountant.

"We essentially plug into your corporate structure; we become part of your management team; and we take on all the PCI issues you used to worry about, because at the end of the day we're out to protect consumers' and merchants' information."

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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