Last week we received a panic call from a Payment Network Access Controller (NAC) reseller and a distributor to one of the largest banks in the CALA region. NAC product supplier has stopped supporting the product and has no plans to give any upgrades to fix recent security issues with this deployment. The Bank’s payment acquiring service stands exposed and is in trouble.
Our team at NewNet Secure Transactions responded quickly assuring the NAC distributor and their bank customer of our ability to do a quick replacement with the state of the art and modern equipment that is fully supported and with active roadmap, while helping the bank customer to quickly migrate their acquiring infrastructure to AWS. Nerves are calmed and the teams are at work to immediately address the situation.
In the last 6 to 12 months, we have been addressing similar situations from customers across the globe. While small and medium customers with NAC only deployments are in the first batch to experience these end of road situations, even bigger and strategic accounts that depend on both NAC and POS terminals from the same vendors are already feeling the reverberations of this scenario.
Our sincere appeal to all Payment Acquirers, Processors, Banks, Merchant Service Providers, Payment Service Providers and Transaction Service Providers is to evaluate your infrastructure requirements proactively, if not already undertaken. Most probably, it is time now to modernize your datacenter or initiate cloud migration without any delay. In the process you not only address your operational challenges but will also save a bundle in your overall cost of operations. It is quite likely that it may not be as straight forward as one might wish and worthy to act before it is too late. Each of these options have their own challenges – supply chain constraints could stretch your modernization plans and cloud migration may take more time than you think depending on your overall service readiness for cloud-based operations. In either case, NewNet Secure Transactions can work with your teams and produce a pragmatic, effective and practical approach to address the issue.
Contact NewNet Sales at [email protected] for additional information.