GLASTONBURY, Conn., January 26, 2022--(BUSINESS WIRE)--Payrailz®, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, announced that it has successfully completed an audit by a qualified security assessor in accordance with the data security standards set forth by the PCI Security Standards Council.
PCI Data Security Standard (DSS) is the standard in the industry when it comes to securing cardholder data. It consists of 12 basic requirements grouped in 6 categories for establishing and maintaining a reliable and secure payment processing environment. A qualified security assessor company reviewed Payrailz’ security measures and found it was compliant with PCI’s DSS standards. Subsequently, Visa added Payrailz to its Global Registry of Service Providers, and Mastercard has done the same.
"Payrailz takes compliance very seriously. We complete security audits so that we can be sure every one of our clients is protected when they use our solution," said Frank Chan, Security and Compliance Officer at Payrailz. "Card fraud has been and continues to be a big issue and being PCI DSS compliant helps us protect our users from this growing problem."
Payrailz also successfully completed a SOC 2 Type 2 examination by an independent CPA firm, as well as a NACHA Rule compliance audit by a third-party auditor– a few more of the many ways Payrailz is protecting its platform and its users.
"It is one thing to talk about security and compliance, but it’s another to actually prove it. Our team and our products have gone through rigorous independent audits to ensure that we’re providing the most secure solutions," said Fran Duggan, CEO of Payrailz. "I am so proud of the work everyone has done to build such a secure payments platform. Our financial institutions and their end-users can rest assured that their data is safe with us."
Payrailz is a digital payments company offering advanced payment capabilities and experiences including consumer and business bill pay, external and internal transfers, new account funding, P2P, B2B, B2C and other related solutions to banks and credit unions. In a society that increasingly has become focused on a "do it for me" culture, Payrailz’ smart technology makes the difference. Payrailz creates smarter payment experiences for the financial services industry that are predictive and more engaging than currently available alternatives. Financial institutions can confidently embrace Payrailz’ API-first and cloud-native technology engine, to offer unique payment solutions to their consumers and businesses. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit payrailz.com, follow them on Twitter @Payrailz, Facebook or LinkedIn, or contact Mickey Goldwasser at 860.430.9245.
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