Business Continuity Management in the Payment Card Industry - A White Paper by SPA - December 2011
‘Business Continuity in the Payment Card Industry’ delivers a set of guiding principles and best practices for developing and managing business continuity programs.
It addresses the potential cost implications of an unmanaged catastrophic incident within the supply chain for payment card issuers and uncovers the confusion inherent in the industry regarding the complex, regulatory frameworks and business value of business continuity management.
It also delivers a detailed cost/benefit analysis on which card issuers and their entire supply chains can make measured business continuity investment decisions that offer the necessary protection for their organizations.
This paper provides the conclusions of a detailed study by the Smart Payment Association (SPA) into the critical business continuity and disaster recovery aspects of the payment card issuance sector. The goals of the study, and the aims of this paper, are to bring clarity to the issues, offer a greater understanding of the value proposition associated with business continuity management, and to establish a set of guiding principles and best practices for developing and managing business continuity programmes.
- Consolidating the findings of the wide ranging SPA study, the paper provides readers with a background to the SPA project: ‘Business Continuity Management in the Payment Card Industry’
- The necessary process steps card issuers should follow to deliver effective business continuity management across their operations
- A proposed business model that can be adapted by card issuers to determine the costs and benefits of the various implementation options
- ‘Real world’ scenarios to further articulate how business continuity management can be delivered to enhance differing strategic objectives
- The results of the study, and the conclusions within this paper, have been independently verified by key experts from the card issuance community across the globe