The two companies took the crown for Lloyds Bank Cardnet’s Compliance Plus concierge service, which harnesses Sysnet’s Proactive Data Security (PDS) technology to assist merchants considered at most risk of a data breach.
It’s key for businesses of all sizes to be supported with their IT requirements in order to prevent a data breach. Compliance Plus helps Cardnet business customers ensure they have effective data security measures in place to reduce the risk of losing their customers’ payment card data. Failing to do this could lead to punitive non-compliance charges and penalties. As part of its security offering, it provides additional features such as anti-virus solutions, software patches and proactive record updating and task management.
Gabriel Moynagh, Sysnet CEO, said: “PCI non-compliances charges can be an effective short term mechanism to drive PCI programme engagement and compliance. However, they should not be used as a long term solution. Cardnet is to be commended in its refusal to tolerate non-compliance and benefit from non-compliance charges.”
Three quarters of Cardnet’s customer base are benefitting from Compliance Plus, seeing conversion rates to compliance run at 94 per cent in the first three months. The solution is providing game-changing services to merchants who were struggling to achieve compliance and those who see the value in the additional features of the product, such as as anti-virus and software patches.
“Limiting non-compliance with the PCI DSS (Payment Card Industry Data Security Standard) is a key strategy for Cardnet. Having effective data security measures in place reduces the risk of losing payment card data and benefits everyone in the payments chain,” said Matt Martin, Head of Merchant Payment Security at Lloyds Bank Cardnet.
Moynagh added: “We’ve been working closely with Lloyds Bank Cardnet for several months now to establish a solution which works for its thriving customer base. I have no doubt this award win is just the tip of the iceberg for Cardnet and the partnership between our two organisations.”