Source: Tech Trends
Safaricom’s mobile money platform M-PESA will soon start offering tap-to-pay services to its more than 60 million customers.
This is after the company announced received the Payment Card Industry Data Security Standard (PCI DSS) Certification on Thursday.
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The certification is a worldwide standard of data security for businesses that process card transactions, by the PCI Security Standard Council (PCI SSC).
Safaricom has received the certification more than a year after partnering with Visa to launch the M-PESA GlobalPay Visa Virtual Card. The card allows millions of M-PESA customers to shop globally and pay securely.
Safaricom says the approval is a great feat for the company and aligns with its mission to transform from a telco to a tech company by 2025 as it will now be a global payment facilitator for partners such as Google, Uber, and Microsoft, among others.
“Safaricom has always been driven by the desire to innovate and provide cutting-edge solutions to our customers. As we navigate the digital landscape, security remains at the heart of everything we do. This certification for M-PESA is a recognition of our dedication to safeguarding financial transactions of our customers,” said Peter Ndegwa, Safaricom CEO.
Other than tap-to-pay the certification will also allow M-PESA merchants to receive online and in-person card payments from Safaricom customers.
With this certification, Safaricom will become part of a few institutions in Africa that can create a regional payment switch system while safeguarding customers, merchants and partners payment data.
The company can now enhance API capability to grow developers on the M-PESA platform to provide enhanced services and expand the portfolio of mobile money services and payment solutions.
“With this development, our customers can rest assured that our processes ensure that their data is protected at all times. It also means that our partners can access more innovative and secure solutions for their clientele,” said Mr. Ndegwa.
Payment Card Industry Data Security Standard is a globally recognised standard that offers a comprehensive framework to safeguard sensitive customer information during transactions. It ensures robust controls and security measures are in place to protect against data breaches, fraud and unauthorised access.
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Source: Tech Trends
