Going forward, Insubuy will continue to improve its online payment security and its capacity for processing payment data.
“Buying insurance is a matter of trust for the customers,” said Narendra Khatri, Co-Founder and CEO of Insubuy. “While Insubuy has always followed the best practices for the security of the online credit card payments, being officially certified will significantly increase the trust of customers in feeling comfortable to buy insurance from Insubuy.”
Security requirements for payment cards
PCI DSS includes a set of data security requirements for payment cards that was initially created by five major global credit card companies (Visa, American Express, Discover Financial Services, JCB International, and MasterCard) and is currently maintained by the Payment Card Industry Security Standards Council (PCI SSC).
PCI DSS certification, one of the most stringent and comprehensive payment security certification standards in the world, has become a prerequisite for all companies working with payment providers. To obtain PCI DSS certification, a company must undergo a comprehensive and rigorous review from an independent assessment organisation authorized by the PCI SSC. Once certification is granted, a company must then comply with relevant security requirements.
Ransomware attacks cause for concern
A US Federal alert has warned that malicious groups are targeting the healthcare sector with ransomware attacks designed to lock up information systems and steal data, highlighting the need for security measures, demonstrating the importance of cyber security and improving the ability of organisations to take payment securely and maintain secure records as well.