IT Services specialists design, build and support Safecypher’s PCI compliant processing system, designed to combat Card-Not-Present (CNP) fraud.
Glasgow, UK – 30 October 2024 – Safecypher, one of Europe’s most innovative card payments security companies, has announced that it has gone live with a PCI compliant anti-fraud solution, supported by Systal Technology Solutions, the global network, cloud, and security specialist.
Designed to prevent the card-not-present (CNP) fraud that occurs when threat actors have access to all card details for online transactions. Safecypher’s technology allows businesses to optionally disable the static Card Verification Code (CVC) on cards and provide customers with new dynamic CVCs that change for each transaction generated through their secure mobile banking application.
To power the technology, Safecypher turned to Systal to design and build the underlying processing system. The system was built on Microsoft Azure and critically needed to adhere to strict regulatory standards to be fully PCI compliant from the start.
Following delivery of the completed system, Systal now maintains and supports the platform. The agreement will also see Systal utilise its recently launched Tampa based Network Operations Centre (NOC) to provide support for Safecypher’s ambitious plans for growth in the US.
“Partnering with Systal to enhance the development and introduction of the Safecypher anti-fraud solution was the obvious choice to make.” said Ben Jordan, CEO of Safecypher. “I was confident that Systal could meet our specific requirements and bring the right expertise to the table. Global losses from CNP fraud now amounts to a massive £35.8 billion a year. Safecypher is now taking the fight back against those losses straight to the fraudsters,” concluded Jordan.
Davina Glading, Vice President Global Projects, Systal said: “Safecypher came to us with the ambitious ask of building a compliant processing system fully hosted in the Azure environment. We knew we had the right team to get it done and never shy away from a challenge. We are excited to continue working alongside Safecypher and can’t wait to support their expansion in the U.S.”