The importance of upholding payment security – Premium Credit
Premium Credit is pleased to announce recertification of its Payment Card Industry Data Security Standard (PCI DSS). PCI DSS is an evolving information security standard created by the Payment Card Industry Security Standards Council (PCI SSC) providing a unified approach to how payment card data should be protected during its lifecycle.
Maintaining payment security
Payment security is of paramount importance to us as a financial institution storing, processing and transmitting cardholder data. The PCI Data Security Standards help protect the safety of this data. They set the operational and technical requirements for us as an organisation as we accept and process payment transactions.
We take the maintenance of payment security incredibly seriously ensuring operational processes and security of cardholder data diligently follows the PCI Data Security Standards.
Through this ongoing accreditation, Premium Credit has formerly been recognised as a company demonstrating that payment card data is handled securely on behalf of its partners and their customers. To gain ongoing PCI DSS recertification, Premium Credit is assessed annually by a Qualified Security Assessor.
Alongside PCI DSS we are compliant with Cyber Essentials Plus, a government backed scheme to demonstrate an organisation’s protection against common cyber-attacks as well as ISO27001, the international standard relating to successfully managing information security.
Graeme Penwarden, Premium Credit’s Chief Security Information Officer said: “We understand the criticality of the card payment journey and the validation of its controls. The PCI Certification provides the independent assessment needed to assure our customers and partners that all transactions we undertake on their behalf are safe and secure.
PCI DSS compliance is a key part of Premium Credit’s IT Security strategy. Protecting customer data
is one of the basic premises of PCI DSS and is an integral part of our GDPR and ISO maturity programmes
Our security team is continually assessing and addressing threats and vulnerabilities that could potentially impact the organisation.”
Security standard accreditations form part of Premium Credit’s market leading Cyber Programme, designed to robustly protect Premium Credit’s smooth operation and delivery of premium finance to over 2 million customers through more than 3000 intermediary partners.
Authored by Premium Credit
About Premium Credit
We are the leading provider of premium finance in the UK and Ireland, and the only company endorsed by BIBA.
We are authorised and regulated by the Financial Conduct Authority, and work with over 3,000 producers of all sizes. We serve over 2.1 million customers, process 24 million direct debits and receive advances of £3.5 billion.
For over 30 years, we’ve led the market through thought leadership, innovation and technology and have helped our partners offer finance compliantly to their customers through face-to-face, telephony and online channels.
We continue to invest to ensure we provide a quality service and support that helps you grow your business and commission. From the delivery of a seamless customer journey, which includes real time decisioning for financing and 24/7 account servicing, to consultation that improves the offer of finance to customers, we are committed to growing the premium finance market.
Our Specialist Lending division also provides finance to pay other annual costs, such as professional fees, membership subscriptions, commercial service charges, golf clubs and school fees.