Well maybe not... But getting it 100% right with compliant partners makes sure your business will rock.
What do we mean by compliance?
When entrusting a payment service provider with your hard-earned money, you need to be confident that they operate in a fully compliant manner and that their systems are secure, robust and scalable.
For Payment Service Providers, system compliance is all about all about adhering to the payment card industry standards. PCI DSS stands for Payment Card Industry Data Security Standard, which sets the requirements for companies to safely and securely accept, store, process, and transmit cardholder data during card transactions, to prevent fraud and data breaches.
In the UK, the Financial Conduct Authority (FCA) takes responsibility for regulating all financial services industries in the UK. This means that financial service providers, investment and consumer credit companies are governed by the Financial Conduct Authority (FCA) to ensure that their conduct is monitored and controlled.
How does compliance apply to FXCPay?
Payment Card Industry Data Security Standards (PCI DSS): The FXCPay payment gateway is PCI DSS level 1 certified (the highest level). This ensures that we operate to the highest standards possible meaning that your business can trust FXCPay.
Regulation: The FXCPay multi-currency pricing module operates as financial software. It works together with multiple merchant acquirers and foreign currency trading partners who are all regulated financial service providers.
FXCPay is a technology solution provider and does not receive merchant funds at any time. It therefore does not perform regulated activity.
General Data Protection Regulation (GDPR): GDPR is a regulation that requires businesses to protect the personal data and privacy of EU citizens for transactions that occur within EU member states. FXCPay is fully GDPR compliant
For more detailed information, please give our team a call and we'll be happy to give you all the insights you need!