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Standards body based in Md. updates standard for PIN transactions

(maxkabakov / Depositphotos.com)

(maxkabakov / Depositphotos.com)

A Maryland-based non-profit organization that develops domestic and international standards for the financial services industry has updated one of its standards.

Accredited Standards Committee X9 Inc., which is in Annapolis, has updated its standard for symmetric key management, called ANSI X9.24-1, or Retail Financial Services Symmetric Key Management Part 1: Using Symmetric Techniques.

The standard, which provides requirements and guidelines for security, is one of the most important used in PIN-based financial transactions, according to X9.

The original version of X9.24-1, published in 2009, is now obsolete.

X9 says has over 100 member companies and over 400 company representatives that work to develop and maintain approximately 100 domestic standards and 58 international standards.


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