NACS Human Resources Forum
NACS State of the Industry
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Carter Hall Conference Center
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Paris and London
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Las Vegas Convention Center
Las Vegas, NV
Contact NACS about these
events at (703) 684-3600 or
NACS and leading trade associations representing merchant and financial services industries announced a new cybersecurity partnership in February, which will focus on exploring paths to increase information sharing, enhancing card security technology and maintaining consumer trust.
“Everyone, from the smallest to the largest businesses, has an interest in keeping our
customers’ payment data secure,” said Henry Armour, president and CEO of NACS. “Working
collaboratively across industries to find ways to thwart data thieves is the best approach to
protecting customers’ information.”
Payments occur in an ecosystem of retailers, banks, card companies, processors, security
and technology vendors and others. The ecosystem operates best when cyber-threats are
addressed collaboratively and each stakeholder does all it can to reasonably ensure the
defenses of their internal systems are as robust and resilient as possible. The partnership will
encourage collaboration across the industries, focusing on the following principles:
n Information sharing is paramount to warding off cyber-attacks and protecting data.
We are stronger together than divided and must warn each other about cyber-threats
being waged against all our defenses. The financial services industry has a robust
information-sharing mechanism through the Financial Services Information Sharing
and Analysis Center (FS-ISAC) that could serve as a forum or model for further
information sharing across sectors.
n Other innovative technologies must be implemented, such as systems that will
transmit payment data in a way that is unique and dynamic to reduce the risks. Ongoing
innovation will be needed to outpace the threats.
n We must forge partnerships among all stakeholders of the payments ecosystem to
collaborate on long-term, comprehensive solutions to the threats that are growing to
card-not-present situations and the mobile environment.
Partnership participants will collaborate in working groups to focus on increasing threat
information sharing, innovative technologies that add safeguards to protect consumers within the
payment system and other areas like national data breach laws.
The partnership includes the Retail Industry Leaders Association (RILA), Financial Services
Roundtable (FSR), American Bankers Association (ABA), American Hotel & Lodging Association
(AH&LA), The Clearing House (TCH), Consumer Bankers Association (CBA), Food Marketing
Institute (FMI), Electronic Transactions Association (ETA), Independent Community Bankers
of America (ICBA), International Council of Shopping Centers (ICSC), National Grocers Association (NGA), National Restaurant Association (NRA) and National Retail Federation (NRF).
For more information on the initiative, contact NACS Government Relations Director
Paige Anderson at email@example.com.