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Manila Bulletin devider Business devider Banking & Finance devider Bancnet passes global data security standard for 10th year in a row

Bancnet passes global data security standard for 10th year in a row

Published Dec 2, 2025 11:39 am
Nestor V. Tan (left) and Fabian S. Dee (right)
Nestor V. Tan (left) and Fabian S. Dee (right)
Electronic banking and payment network BancNet has achieved a significant milestone, securing certification for the latest version of the Payment Card Industry Data Security Standard (PCI DSS v4.0.1) for the tenth consecutive year. This standard represents one of the highest data security benchmarks in the global financial sector.
BancNet successfully navigated a rigorous assessment, meeting the demanding requirements of PCI DSS and underscoring its consistent commitment to safeguarding sensitive cardholder data.
PCI DSS is a globally recognized data security framework adopted by major card brands, including American Express, Discover Network, JCB, Mastercard, and Visa, to ensure the protection of sensitive cardholder information. Organizations that store, process, or transmit account data for these brands must adhere to the standard.
BancNet's continued compliance solidifies its position as a trusted and secure provider of payment systems.
The PCI DSS assessment evaluated BancNet's entire electronic payment infrastructure. This included core payment processing systems such as InstaPay, the real-time fund transfer service it operates, as well as its ATM and point-of-sale (POS) transaction processing switch, and its clearing and settlement system. All components successfully met the stipulations within the latest PCI DSS version.
The official certification of full compliance was issued by ControlCase, LLC, a U.S.-based Qualified Security Assessor Company (QSAC) accredited by the PCI Security Standards Council (PCI SSC). The PCI SSC is the global organization that develops and updates the standards and accredits qualified assessors.
PCI DSS v4.0.1 clarifies and reinforces key enhancements introduced in the previous version to align with modern security practices, including stricter multi-factor authentication and more complex authentication requirements.
BancNet CEO Emmie Reyes emphasized the network's dedication to security.
“Being certified compliant with PCI DSS for the 10th consecutive year is a testament of our unwavering commitment to data security and fraud prevention,” Reyes said. “Protecting cardholder information is at the heart of everything we do, and this milestone reinforces the trust our members, network participants, and international partners place in us.”
BancNet currently interconnects over 29,000 ATMs and more than 670,000 POS terminals nationwide, serving approximately 135 million cardholders across its 103 members. As the operator of the InstaPay real-time payment system, BancNet also ensures the interoperability of mobile banking and payment apps and QR PH codes among the country's banks and e-money issuers.

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