Interswitch East Africa has become the first company in East Africa to attain the PCI PIN security certification.
In 2014 the company became the first one to be certified with the prestigious PCI DSS (Payment Card Industry Data Security Standard) Certification then under the Paynet brand.
The global move towards card and online transactions is bringing to the fore the need to maintain strict security standards in payment transactions.
The entire payment chain, from the cardholder, to the issuer (bank) right through to the merchant (acquirer) relies on the highest levels of security to ensure confidence of protection in card and online payments.
The Personal Identification Number (PIN) is a Cardholder Verification Method used to verify the cardholder at the point of transaction.
“Attainment of PCI PIN Security certification is an assurance that customers’ confidentiality of PIN is safeguarded. This assurance applies to customers of all institutions that use Interswitch for payments processing,” said Bernard Matthewman, Interswitch East Africa (K) CEO.
Currently, Interswitch undertakes payments processing for over 40 per cent of the financial institutions in the region who outsource debit and credit card issuance, electronic financial transaction switching, ATM management and other financial services.
The number is expected to grow in 2016.
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