Certification boosts fintech player’s stronghold in data space

The payments and fintech player has received the certification of compliance for the Payment Card Industry Data Security Standard Version 3.2 (PCI DSS V 3.2).  FSS is among the few third-party payment processors globally to receive the certification for FSSNeT, its hosted payment services environment. This underscores FSS’ ability to provide a secure payment services environment, compliant with the most rigorous and up-to-date global standards. 

Payment fraud poses a significant and dynamic risk to financial institutions and consumers across the world. According to a Nielsen report, worldwide, losses from card fraud would grow from $27bn in 2017 to $31bn in 2020. In the face of growing data breaches and intensifying regulatory scrutiny, there is a need to enforce strong security controls to reduce the likelihood of threats being realized. 

With FSSNeT being PCIDSS 3.2 compliant, banks and payment processors, can be assured their services are protected with the most advanced suite of technical and operational controls that work together to provide a defencein-depth approach for the protection of sensitive data. 

Suresh Rajagopalan, President Software Products, FSS, said “PCI-DSS V 3.2 compliance enables us to provide financial institutions the confidence to operate security sensitive payment services in a hosted environment.”