twitter

GSA SmartPay Program Sets a High Standard for Security

The General Services Administration (GSA), the federal agency responsible for coordinating payment card distribution across the federal government, has launched the GSA SmartPay Program to secure federal payment cards secured with chip-and-PIN technology and save taxpayer dollars.

This is exciting news for payment authentication because, while most U.S. banks have announced that they will be issuing less secure ‘chip-and-signature’ credit cards, the federal government will set an important example by issuing all of its payment cards using the more secure ‘chip-and-PIN’ protocol. U.S. financial institutions should follow the SmartPay program’s lead and reduce payment fraud by issuing chip-and-PIN cards.

The SmartPay Program describes itself as “the largest government payments program in the world serving more than 350 Federal agencies, organizations and Native American tribal governments.” In addition, agencies and organizations participating in the program use over three million cards to spend $26.4 billion annually through 87.4 million transactions.

The SmartPay Program ultimately derives from Executive Order 13681: Improving the Security of Consumer Financial Transactions, which President Obama signed October 17, 2014. In addition to easing the pain of consumers who have fallen victim to identity theft, the order mandates that all federal payment terminals and payment cards must be secured with chip-and-PIN technology.

Comments 

 
0 # luigi4235 2015-02-21 08:24
̿' ̿'\̵͇̿̿\з=(◕_◕)=ε/̵͇̿̿/'̿'̿ ̿
+++thatsafunnypic.com+++
Reply | Reply with quote | Quote
 
 
 

Add comment

Security code
Refresh

Learn How