AppsNmobile Solutions, a fintech company that provides software solutions and enables payments, has become the second fintech company in Ghana to acquire a Payment Card Industry Data Security Standard (PCI DSS) certificate.
This was after successfully going through a rigorous process with Digital Jewels – a PCI DSS certified quality firm.
At a short presentation ceremony, CEO of AppsNmobile Richard Bansah, called on banks and other financial service providers to strengthen their information security systems in order to reduce the vulnerability of the financial sector to cyber fraud.
A report by the cybercrime unit of the Ghana Police Service indicates that Ghana lost almost $97 million to cybercrime in 2018 alone.
But, Mr Bansah said, securing the financial system will enhance the confidence of customers and translate into the desired growth.
He added that: “This move came in to also avoid being sued or risking the data and security of our customers. It builds our credibility, secures our system and gives our customers assurance. We decided to embark on this journey also because of increasing requirements by some of our partners that needed a company that was PCI DSS certified. So rather, than lose the opportunities that may come out of this, we decided to go through the process and be ready for any opportunities that may come.”
Meanwhile he’s assured customers of improved data protection and quality service after being certified as PCI DSS compliant.
A PCI DSS is an information security standard developed to protect credit, debit and cash card transactions and prevents the misuse of cardholders’ personal information.
On her part, CEO of Digital Jewels, Adedoyin Odunfa, lauded appsNmobile for this initiative. She advised the company to capitalise on this certification to expand their operations.
“The PCI DSS standard helps you to protect the data in either processing, storage or transmission. AppsNmobile has done this very rigorous process and it will be a competitive advantage for them because they are one of the few fintechs that have gone this way. And therefore they will stand out amongst many other”
Madam Odunfa added that acquiring a PCI DSS certification will soon become a denominator for doing business in Ghana by 2021.