Published: 23/06/2016 - Updated: 23/06/2016 - Tags: Payment Methods
Promise Pay is an online third-party payment company based in Australia that focuses on providing services to ecommerce companies.
Promise Pay is lead by CEO Simon Lee who seeks to grow and expand both Promise Pay and the online payments industry as a whole.
Promise Pay Services and Features
Fraud Prevention: Promise Pay works to prevent fraudulent activity on its platform by operating a number of automated identity and security processes to keep its members safe when paying for products and services online.
Promise Pay also works to prevent fraud on its platform by protecting sellers against chargebacks, dishonest buyers and other suspicious activity that could cause turmoil for a business if the problem is not caught quickly.
Licensed and Compliant: Promise Pay is licensed to operate in both Australia and the United States. Clients can be assured that all transactions are handled in full compliance with local laws and regulations.
Promise Pay Security
Promise Pay offers a number of important security features to give their customers a peace of mind that their funds and accounts and being protected against potential theft and fraud. One great feature in particular is two factor authentication. For any action taken place on the Promise pay platform, users will need to enter a unique authentication code delivered directly to their mobile device. This important security feature is implemented on all transactions regardless of size.
Promise Pay has also protected all client information in a PCI DSS compliant vault. This means that in the event that Promise Pay is compromised by cyber criminals, sensitive consumer information is kept protected from thieves that could cause serious financial problems. This proactive security measure means users can store their information on Promise Pay servers with confidence that their data will not be compromised.
It is important to note that Promise Pay is not a bank and does not hold funds themselves. Instead, Promise Pay uses partner banks Bank of America in the United States and National Australia Bank in Australia. Through the use of partner banks, Promise Pay customers will still be able to access their funds in the event that Promise Pay is not available for assistance in the future.
In online transactions, identity verification is incredibly important. Promise Pay utilizes 2048 Bit SSL asymmetric encryption to make sure that sensitive data is viewed only by those for whom it was intended. 2048 Bit SSL certificates are industry standard and used in every service that Promise Pay offers.
Of course, security is an ongoing process. Encryption alone is not sufficient to prevent cyber crime. Promise Pay routinely conducts both internal and external security audits to ensure that any potential bugs that could serve as points of weakness.
Promise Pay even goes the extra mile to conduct background tests on all employees to ensure that each individual working with the company can be trusted with conducting daily activities that involve sensitive consumer data. Promise Pay is committed to consumer safety and creating a safe platform for online transactions.