Cashfree achieves ISO certification for data security

Hyderabad: Cashfree attained ISO27001 certification for its information security management system (ISMS). The certification, regarded as an international standard, defines a management system for information security.

In addition, Cashfree holds the PCI-DSS v3.2.1 certification in compliance with the Payment Card Industry (PCI) regulations and maintaining a secure environment for credit card transactions. By following these standards, businesses ensure the security and protection of the data provided by cardholders and transmitted through card processing transactions.

Akash Sinha, CEO, Cashfree, said, “Data security should be the top priority of any business looking for a payment platform. Every business has its own specifications for functionality; however, security assurance is a crucial factor in choosing a payment platform. Cashfree’s top priority as a company has always been the security of its merchants and users.”

“As digital adoption accelerates, the threat of cybercrime increases. We monitor payments very frequently, both pay-ins and pay-outs, and use technology to a greater extent to accelerate the process of risk evaluation. With our ISO/IEC 27001:2013 certification and PCI-DSS compliance, our customers can be doubly confident in our information security and safety,” he added.

With the exponential growth in digital transactions, secure data storage is key for payment platforms. Cashfree is currently developing proprietary AI to enhance its fraud mitigation and cybersecurity systems. Cashfree’s AI-driven risk and fraud prevention system analyses over 100 payment parameters in seconds to determine whether to approve or decline a transaction.

Recently, SBI invested in Cashfree, which works closely with several banks to build the core payments and banking infrastructure that powers the company’s products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay.Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

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