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PM celebrates with Mako Networks

05 Feb 10

Prime Minister John Key was full of praise when he attended the celebratory launch of Mako Networks’ PCI DSS Merchant Solution, a world first in PCI (payment card industry) DSS compliant solutions.

In an animated speech, Key said he gets “excited about companies like Mako” and the possibilities they bring. He said New Zealand will never compete in the world on price, so we must compete by producing world class products. He emphasised the importance of innovation, through research and development and, of course, investment to the tune of $1.5b in a high speed network for New Zealand. New Zealand Trade and Enterprise and the Foundation for Research Science and Technology have both been heavily involved in the development of the new Mako solution.

Key finished: “I am very optimistic about what is happening in the IT space... you have our full support and we wish you the very best.”

For Bill Farmer, CEO of Mako Networks, the new Mako PCI DSS Merchant Solution is one such groundbreaking product, which places Mako Networks in a unique global position. The solution provides a toolset that enables companies to become PCI compliant, at a low price point, to be announced shortly. According to Mako staff, no other player in the PCI DSS solution industry has been able to produce an equivalent product at such a low price point. The launch comes hot on the heels of a major credit card breach in Australia, highlighting the need for PCI compliance throughout the world.

In order to send the PCI DSS Merchant Solution to market, Mako itself has had to become PCI compliant, audited by Deloitte, and successfully completed a day before the launch. Murray Jack, CEO of Deloitte, hailed Mako as “one of New Zealand’s great success stories”, adding that the company itself has had to “eat their own cooking” by complying with over 200 rules before receiving the certification required to send the product to market.

The event also celebrated the appointment of Doug Frederick to Mako’s board of directors and the assumption of his role as chairman.

Frederick said: “We seem to be at one of those rare moments where opportunity and preparation and hard work are all coming together for Mako Networks.”