Semafone and SecureCo boost credit card security
With credit card fraud on the rise, Semafone and SecureCo have partnered to provide telephone payment security to Australian call centres.
In the first half of 2016, Australia saw $402 million worth of fraudulent CNP transactions according to the Australian Payments Clearing Association (APCA). This figure represents almost 80% of all fraudulent activity on debit and credit cards Australia-wide.
“CNP transactions have become low-hanging fruit for cybercriminals since the introduction of Chip and PIN technology,” said SecureCo CEO Paul Bird.
“Yet very few solutions have been available to secure call centre payments in line with industry regulations. As a result, many Australian call centres still need to do more to protect sensitive customer data, such as credit card details, and realise full compliance with the Payment Card Industry Data Security Standard (PCI DSS).”
The Privacy Amendment Bill, which is new legislation requiring companies to report data breaches within 30 days, has moved breach notification from a voluntary to mandatory activity. Any failure to report a breach attracts penalties of nearly $2 million.
Through the Semafone partnership, SecureCo will address CNP fraud by providing a solution that reduces the risks around large-scale data breaches. This protects brand reputation and gives consumers peace of mind, knowing their payments are processed in safe and secure environments.
“When integrated with our specialised PCI DSS hosting and payment processing platform, we’re able to provide a complete PCI DSS compliant solution instead of the band-aid methods we know some customers are using,” said Bird.
“SecureCo is a key player in Australia’s secure payments market,” said Tim Critchley, CEO, Semafone.
“By joining forces, we’re now able to bring fully integrated and cost-effective PCI DSS to their highly influential base of partners and customers.
“Merchants will benefit from a completely secure solution that encompasses their entire call centre and payments environment, while enjoying the rapid deployment and flexibility that can be found in a hosted system delivered as a service — a solution that will remove the fear of hacking and the burden of PCI DSS compliance.”
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