QPAY Achieves highest payments industry security certification (PCI DSS 3.2)

QPAY has become the first company in Qatar to achieve Payment Card Industry Data Security Standard (PCI-DSS) version 3.2 – the highest level of security in the global card industry.

According to data from Nielson International Research, 94.5 percent of all card fraud cases are an inside job; if a user’s card information is compromised, it is most likely because card information was leaked from an internal bank employee.

Further enhancing its position as a pioneer of innovation in Qatar’s financial sector, QPAY invested a great deal of time and resources in technology, security and infrastructure to achieve the PCI-DSS version 3.2, which ensures a user’s card information is kept confidential and sealed from internal employees of the card provider as well as from external hackers.

PCI-DSS version 3.2 is adopted by leading global payment networks such as VISA, MasterCard, American Express, China Union Pay, Discover Card and more.

The security and infrastructure required to achieve PCI-DSS ensures no bank employee can access a user’s card or PIN information. QPAY embarked on a year-long project to rewrite every line of code, reconfigure every server, and retrain staff, demonstrating to banks and financial sector entities that QPAY is their trusted partner for unmatched, secure electronic payments.

No bank, insurance company, no telco or exchange house in Qatar has ever achieved end-to-end PCI DSS security.

“We believe that cash will eventually disappear and will be replaced by electronic payments. However, if electronic payments are not secured, then it will be very easy for cybercriminals and hackers to take from trusting Qatari customers. By becoming the first Financial Technology (FINTECH) company to achieve PCI DSS 3.2; we are taking leadership and making a public commitment that Qatari consumer data is very important, it must be secured to the highest standards, and shall not be taken lightly,” said Nebil Ben Aissa (pictured), CEO and founder of QPAY International.

“Achieving PCI DSS certification, and the dedication of the QPAY team to the highest standards, is a strong business message to our bank partners that they can trust QPAY, and outsource certain activities to QPAY; leverage our investments and achieve the highest levels of PCI DSS for their own customers, said,” Aizaz Tahsildar, Director, Corporate Business development, at QPAY.

“We see various enterprises investing in Qatari real-estate, construction and projects in preparation for the FIFA World Cup 2022. At QPAY, we are also investing in Qatar and building a secure financial services ecosystem in order to assure safe and secure electronic payments in 2022 and beyond.”

Founded in 2011, QPAY is the largest Financial Technology (FINTECH) Company in Qatar, with a primary focus on servicing Qatar’s Small and Mid-size Enterprise (SME) sector.