Sacombank gets international payment card industry data safety certificate for 8th year

Thursday, Nov 25, 2021 19:07

Sacombank gets the Payment Card Industry Data Security Standard certification for eight year. — Photo courtesy of Sacombank

Sacombank has received the Payment Card Industry Data Security Standard version 3.2.1 Level 1 certification, the highest level, from the US’s ControlCase.

This is for the eighth straight year that Sacombank is getting the globally recognised security certificate in the field of card issuance and acceptance.

PCI DSS is a set of requirements intended to ensure that all companies that process, store or transmit credit card information maintain a secure environment established by the PCI Security Standards Council, whose members include American Express, Discover Financial Services, JCB International, Mastercard, and Visa.

Getting the certification for so many years is evidence of the relentless efforts made by Sacombank to upgrade its information technology infrastructure so that it meets the strict card data security criteria.

In addition to its efforts to secure customers information, Sacombank also deploys other products and services to help customers feel secure when using cards, especially online.

At the end of 2020 it became one of the first banks in Viet Nam to co-operate with international payment companies Visa and MasterCard to upgrade the 3D-Secure multi-level security system for card transactions from version 1.0 to version 2.0 according to EMV standards for these card lines to enhance the safety of online transactions, speed up the transaction process and help customers easily experience modern banking services.

In May 2021 Sacombank and Mastercard collaborated to launch ‘Purchase Protection’ and ‘ATM Protection’ features for their payment cards. They had already come out with two other features, ‘ID theft protection – alert’ and ‘e-commerce protection.’

With these four features, cardholders are fully protected both in terms of personal information and card transactions.

Sacombank is also the only bank so far in Viet Nam to tie up with Visa and Mastercard to deploy the Tap To Phone technology that accept contactless payment through mobile phones.

Tap to phone enables merchants to use their mobile phones or tablets as a point-of-sale terminal for contactless payments.

Together with the Rapid Seller Onboarding, enterprises/ household businesses can complete the setup and register online to become a card accepting unit quickly and easily.

With these two solutions, Sacombank offers a packaged solution for businesses wishing to accept cards with high security, helping promote digitisation at businesses.

Tap to Phone is now used only in near-field communication (NFC)-enabled Android mobile devices 8.0 and above, and will be expanded to iOS devices in future.

The bank also received the PCI DSS certification in 2021 for its Sacombank Pay financial management application to offer customers total peace of mind when transacting and storing payment information on the app.

Sacombank plans to continue to perfect and upgrade the security system and technologies to provide the highest safety and convenience to customers. — VNS

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