The Future Of Payment Devices: Huge Connect’s Secure Connectivity Network and PCI DSS Compliance

The future of payment devices is rapidly evolving, delivering increasingly sophisticated and secure payment devices that promise to move us ever closer towards a more digital and cashless society. 

The basic premise of these developments is to provide consumers with more convenience, speed, and safety while they transact. For enterprise financial service providers (FSPs) and fintech start-ups, this has the potential to not only improve their services to retail merchants, but create an increasingly lucrative supplementary revenue stream. 

As a result, there has been an undeniably large growth spike in the number of improved payment services offered by FSPs to their customers. Notably, it’s brought into the light just how important it is for these companies to gain access to the right support and customised secure connectivity solutions.

The FSP Payment Space

FSPs are seeking to create a seamless fulfilment and delivery, connectivity, activation, and onboarding journey for their clients. To that end, they have continued to develop newer and smarter payment methods. Primarily, this has included banking terminals. 

What’s interesting to note is that the growth and improvement of the more traditional means of payments has undergone tremendous change. As such, the humble payment terminal now boasts the capability of facilitating contactless payments, accepting of virtual bank cards, as well as the device itself moving into the modern age to include Android software allowing for more robust security and functionality.

It can be challenging, though, for FSPs to find secure connectivity solutions and services that are specific to the relationship between the FSP and the retailer. The kind of solution that would safeguard and uphold the vision and goals of the FSP, which is ease of use, reliability, and convenience.

Security And Compliance Is A Challenge

Consumer fears around exchanging physical cash and promoting a low-touch economy as a result of the Covid-19 pandemic, brought on the rise of the contactless trend. And devices were innovated to cater for this. Worryingly, this opened customers and businesses up to fraud and major losses.

Unsurprisingly, secure connectivity networks and Payment Card Industry Data Security Standard (PCI DSS) compliance became vital. This is particularly true for FSPs and fintechs who need uncompromisingly secure connectivity networks in order to protect against cyber threats, fraud, and data breaches to ensure the privacy and security of user data.

To support this market, Huge Connect provides secure connectivity network solutions, PCI DSS compliance, and a sturdy service department of industry experts, all equipped to ensure that our FSP clients are able to remain focused on their core business operations. In fact, it’s a cornerstone of our offering. 

GSM Data Solutions

Mobile phone usage has surged globally, and GSM data solutions make it possible for the latest payment trends to be used across all corners of the market – including our underserved, but economically viable populations. Essentially, with the right GSM solution, FSPs and fintechs can improve their connectivity and network capabilities, tapping into new retail markets that are rapidly becoming more visible as the country digitises. Ultimately, by leveraging these technologies, FSPs and fintechs can improve their service delivery and provide a better customer experience.

At Huge Connect, we provide GSM Data Solutions to any size business, from SMEs to large institutions. From telecommunication services for card payments to medical aid verification transactions, our GSM Data Services can also be used as failover to access mediums such as xDSL, Fibre or Satellite with user-defined restrictions defining which type of data is permitted to failover (done to reduce costs).

The Huge Difference

At Huge Connect, we have ensured that our services include vigorous end-to-end testing to ensure that we can accommodate banking terminals supplied to various types retailers. These may include serial, ethernet and wireless devices, not to mention the newer, smart data-hungry Android terminals – which always ensure the latest security protocol updates are loaded.

Notably, we take care to rely on detailed testing and evaluating procedures across the different terminal types that are catered to for connectivity compliance and approval by FSPs.

It’s also worth mentioning that Huge Connect depends on multiple Broadband technologies to provide our fully managed solutions, which predominantly consists of Point of Sale (POS) connectivity. That said, we have recognised the demand for more over-the-top services, such as eMail, Internet, and VPN access, together with CCTV, which necessitates more connectivity options. In answering the call for this new wave of demand for over-the-top services, we have diversified our product and service offerings – in addition to our managed services.

In this way, we’re able to meet these requirements and ease your burden of having to deal with multiple suppliers for your connectivity needs.

How Huge helps you:

  • We employ various terminal types
  • We enable data communications for various terminal types
  • To create customised solutions, we rely on multiple connectivity mediums
  • We only use specialised, evaluated and approved hardware
  • Our solutions utilise a robust redundant secure network
  • We offer a fully managed service
  • You are guaranteed a secure network approved by the bank

Connect With Us

The fact is that payment device technology is constantly evolving, with new trends emerging all the time. Integration with apps, digital payments, blockchain technology, contactless payments, Buy Now, Pay Later, cross-border instant payments, and biometric authentication are just some of the latest trends we’re seeing. By embracing these trends and investing in the latest payment technologies, FSPs and fintechs can stay ahead of the curve and provide users with fast, convenient, and secure payment options.

A crucial step in this process is having a partner you can trust to supply a secure connectivity solution, address the needs throughout the supply chain and deliver innovative solutions, while also keeping PCI DSS compliance top of mind.

As the preferred Assured Partner of a number of FSPs and fintech companies, we believe that we can help.

Connect with us today.

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