4 May 2011
How many times and in how many places have you entered your bank card's PIN (Personal Identification Number) today? To make sure that the integrity of this data is protected throughout all transactions, ISO has technically revised and updated the Standard providing requirements for the management and security of PINs (ISO 9564-1).
Why an international Standard for PIN management? Take the example of just one financial institution, Visa. In 2007, Visa had 20000 member banks with 1.59 billion cards in circulation generating 59 billion transactions per year, with peaks of more than 6800 transactions per second. The ISO Standard for PIN management helps protect the identification numbers used for cardholder verification against unauthorised disclosure, compromise, and misuse everywhere in the world. It thus helps minimise the risk of fraud through electronic funds transfer systems.
The PIN management Standard is Financial services – Personal Identification Number (PIN) management and security – Part 1: Basic principles and requirements for PINs in card-based systems ISO 9564-1:2011. ISO 9564-1 specifies principles and techniques that provide the minimum security measures required for effective international PIN management. These measures apply to institutions responsible for the management and protection of PINs during their creation, issuance, usage, and deactivation.
Standards New Zealand
(04) 498 3986
About Standards New Zealand
Standards New Zealand is the operating arm of the Standards Council, and part of New Zealand's standards and conformance infrastructure. Standards New Zealand is an autonomous Crown entity responsible for managing the development and distribution of Standards across a range of sectors nationally.
Standards New Zealand is a self-funded, not-for-profit organisation, relying on revenue primarily from contracts with sponsors to develop Standards, and from sales of Standards publications. Our independence helps us facilitate a cross section of stakeholders' contributions to the development of Standards, and ensure that each Standard meets the needs of end users.
Stay in touch
Subscribe to Standards New Zealand's monthly e-magazine Touchstone at www.standards.co.nz/touchstone for the very latest news on Standards.
The question is not what you gain from standardisation, it's what you lose without it.