Optus has become the first telco to achieve international security certification for its managed bill payment solution for financial institutions and retailers.
Optus Business SmartPay has attained Payment Card Industry Data Security Standard (PCI DSS) compliance in Australia and New Zealand.
PCI DSS is a globally recognised standard developed by the major payment card companies to help organisations that process payment cards to protect against fraud, hacking and various other security vulnerabilities and threats.
According to a June report from the Reserve Bank of Australia, 60 per cent of Australians with Internet access pay most of their bills online, while the biggest deterrent to making any type of payment online is the risk of fraud.
Trudy Holtzhausen, Optus Business fixed products and marketing acting director, said it is important that personal data is protected as more people transact online.
We have invested a significant amount of time and resource to achieve PCI DSS compliance for Optus Business SmartPay so our customers can give their customers greater assurance that their financial data is safe.”
The certification was issued by Vectra Corporation, an organisation certified for PCI DSS compliance auditing. Optus was required to prove it could build and maintain a secure network with strong access control measures and ensure protection of cardholder data. Additionally, Optus must maintain an information security policy and regularly monitor and test its networks as part of its vulnerability management program.