Following the high growth of the fintech industry in 2019 and 2020 predicted to see the same, our CRO, Darren Gill, sat down with Business Chief to discuss industry trends.
Could you tell me a little bit about your company and your role at the company?
PCI Pal is a leading provider of secure payment solutions for contact centers and other businesses that take Cardholder Not Present (CNP) payments. With an increase in data privacy regulations, as well as data breaches, it is becoming critical for businesses to ensure their customers’ sensitive payment information is secured. PCI Pal’s solutions provide that security by descoping the contact center so that this information never reaches a company’s environment and isn’t accessible to hackers and other bad actors.
As Chief Revenue Officer at PCI Pal, I am responsible for managing the company’s global sales and partner engagement strategies as we continue to expand into new markets. Before that, I led the development of our partner program in North America.
What are the current trends within your industry?
With the recent increase in high profile data breaches, consumer trust is at an all time low. In fact, 2018 research from PCI Pal revealed that 40 percent of American consumers are concerned about sharing their sensitive payment information over the phone, representing a significant problem for businesses that leverage the phone channel to make financial transactions. Speaking payment details over the phone used to be standard practice, but since it allows anyone on either side of the phone call to obtain private customer information, businesses will need to rethink their processes.
What makes your company competitive?
Certified for seven consecutive years by the most stringent information security standard, PCI DSS c3.2.1, customers can feel assured their data is safe with PCI Pal. Because our entire product portfolio is served from the cloud, integrations with existing environments are simple and efficient, ensuring no degradation of service while meeting security and compliance requirements. We have also recently been recognized for our compliance solutions by the Cybersecurity Breakthrough Awards and CNP Awards.
What innovations has your company been developing during 2019?
We know how important it is for consumers to be able to interact with companies on their preferred digital channel, whether it’s on the phone, over email, SMS or social. Leveraging our extensive experience across the secure payments landscape, we’ve spent months strengthening and expanding our secure and compliant payment solutions to help organizations that take Cardholder Not Present (CNP) transactions to meet these needs. With PCI Pal Digital, businesses are able to provide customers with secure payment options across digital engagement channels, all from within the PCI Pal platform. PCI Pal’s technology ensures these channels are descoped from the requirements of PCI DSS, so that in the event of a data breach, customer information is protected.
What are your predictions for the industry in 2020?
In 2020, businesses will continue to prioritize a digital first strategy that includes improvements to security and the customer experience. As a result, businesses will move towards the adoption of omnichannel secure payment solutions that enable them to take payments across any digital channel for Cardholder Not Present (CNP) transactions. This includes channels such as social media (e.g. Webchat, Whatsapp, Messenger), email and SMS. Furthermore, businesses will look to technologies that ensure these channels are secure and compliant with the requirements of PCI DSS, while retaining operational flexibility to engage in conversations with customers in the channels that work for the business.
Is there any exciting news you’d like to share with our readers at Business Chief USA?
In addition to launching PCI Pal Digital to provide a true omnichannel secure payment solution for our customers in 2020, PCI Pal will continue its global momentum with new partnerships, product integrations and customers. Watch this space for more!
View the original feature here.
The post Business Chief feature: ‘PCI Pal: providing data safety and security for its customers’ appeared first on PCI Pal.
*** This is a Security Bloggers Network syndicated blog from Knowledge Centre – PCI Pal authored by PCI Pal. Read the original post at: https://www.pcipal.com/en/knowledge-centre/press/business-chief-feature-pci-pal-providing-data-safety-and-security-for-its-customers/