BEIJING, Aug. 3, 2020 /PRNewswire/ — iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, is pleased to announce that the Company has been certified with Payment Card Industry Data Security Standard (PCI DSS), becoming one of the first batch of Chinese video streaming platforms to receive the certification. Going forward, iQIYI will continue to improve its online payment security and its capacity for processing payment data. The Company also plans to provide a greater number of products and services that meet payment data security requirements to drive its global expansion.
"Privacy protection and data security are areas that iQIYI attach great importance to. PCI-DSS certification represents an important milestone for data security in our overseas operations," Said Liu Wenfeng, CTO of iQIYI. "Going forward, iQIYI will continue strengthening its data security technology and capabilities in order to provide our overseas users with the highest quality of service."
PCI DSS includes a set of data security requirements for payment card that was initially created by five major global credit card companies, namely, Visa, American Express, Discover Financial Services, JCB International and MasterCard, and currently maintained by PCI SSC (Payment Card Industry Security Standards Council). PCI DSS, one of the most stringent and comprehensive payment security certification standards in the world, has become a prerequisite for all companies working with payments providers. The supported international card brands are MasterCard, Visa, JCB, American Express, Discover/Diners Club and Union Pay.
In order to obtain PCI DSS certification, a company must undergo a comprehensive and rigorous review from an independent assessment organization authorized by the PCI SSC. Once certification is granted, a company must then comply with relevant security requirements in its daily operations. iQIYI was able to achieve all of the required requirements in about two months, receiving the highest recognition from assessment organization – atsec Information Security.
In June 2019, iQIYI launched its international operations in markets including Malaysia, Thailand, Singapore, Philippines, Vietnam, Indonesia and North America. By receiving this certification, iQIYI is able to strengthen its payment data security for its users, explore more payment partnership opportunities and provide overseas users with a wider selection of payment options.
So far, iQIYI meets international security standards in areas such as its video streaming services, membership system, account application system, payment center, R&D, product testing, operations and so on. Prior to receiving PCI-DSS certification, iQIYI passed international certification authority DNV GL’s accreditation and received ISO/IEC 27001:2013 ("ISO 27001") and ISO/IEC 29151:2017 ("ISO 29151") certifications.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI’s platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce.
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