LONDON, May 5, 2020: The ai Corporation (ai), an FCA approved expert in payments, fraud and risk management, today announced that it has upgraded EazyFuel™, its closed loop fuel card platform, to be fully PCI compliant, in anticipation of the expansion of PCI Data Security Standard to cover fuel cards.
Today’s upgrade ensures that ai’s EazyFuel™ closed loop fuel card platform meets the rigorous controls defined by the Payment Card Industry Security Standards Council for the protection of payment card data. Ensuring EazyFuel™ meets the required levels of due diligence required for storing, processing and transmitting fuel payment card holder data.
ai, whose aiGateway™ - omni-channel payment gateway - was granted Level 1 Service Provider accreditation (for version 3.2 of the PCI Data Security Standard) recently, has rolled out PCI compliance across its suite of payments, fraud and risk management solutions for the fuel industry, in advance of any change to PCI DSS compliance or regulation.
Dr Mark Goldspink, CEO of ai, says: “We believe that PCI compliance is inevitable for closed loop fuel card platforms. While B2B closed loop payments currently remain outside the purview of PCI, the fact is that our customers are demanding that level of security for their fuel cards. As a result, ai is one of the first companies in the world to adopt, and be externally audited to PCI standards, to ensure secure global access for our fuel card customers.
“Our decision to optimize our software applications with Microsoft Azure and comply with current PCI DSS standards, supports ai’s ongoing strategy of launching best of breed, hybrid, open and closed loop issuing products. Enabling safe and secure omni-channel fuel payment acceptance, whether a payment is made via a mobile, traditional POS, a card not present transaction (CNP) or Pay by Bank.”
As well as the security improvements EazyFuel™’s upgrade provides, today’s move supports ai’s ongoing strategy of helping its clients capitalise on omni-channel processing aggregation. Offering ai’s users a ‘one-stop- shop’ for payment acceptance, risk and fraud management and analytics.
Nick Walker, ai’s COO, explains: “Put simply the more a business can re-use and re-purpose the same asset to offer more value, the more compelling the financial returns. We believe that payment transaction security is critical, whether it is B2B or B2C. As a result, coupled with ongoing technology and specification convergence, we believe that all payments will need to be PCI compliant soon.
“For ai to offer this level of service and security to our global enterprise customers ahead of any change, means that our security systems must be of the highest standard. On that basis, ai is proud to be at the forefront of this type of industry initiative”.
ai has upgraded EazyFuel™ in preparation for the expansion of PCI DSS over B2B fuel card payments and has been working with an independent Qualified Security Assessor (QSA) and PCI auditor during that process.
About The ai Corporation Limited (ai)
ai is trusted around the world for developing innovative technology that allows our customers to take control and grow profitably. Founded in 1998, we have a long track record of providing solutions to some of the world’s largest financial/payment institutions and international merchants. Our long-standing business partnerships are based on making things simple and providing self-service tools that allow our customers to take control. Through our relentless focus on these tools, we constantly strive to help our customers create highly profitable returns.
Take Control: Simply Stop Fraud:
Today, our unique self-service fraud detection solutions are considered by many industry “thought leaders” to be the best in the world. Our solutions, including our new “state of the art” machine learning/A. I, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor over 25 billion transactions and authorisations each year. These machine learning technologies are also flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.
Take Control: Simply Manage Omni-Channel Payments:
In line with customer demand, and as the payment value chain continues to converge, ai is positioning itself to take advantage of the evolution of payments digitation, by exploiting our fraud and analytical capabilities. To support this ai’s payment gateway, issuing platform and European Money Licence, mean we can act as a payment facilitator for our business partners, allowing them the luxury of rapidly launching new alternative payment types into the marketplace. A truly end-to-end offering which uses “state of the art” machine learning to manage omni-channel payment transactions securely via a cloud-based platform.
Find out how ai can provide innovative technology that will help you grow profitably by visiting www.aicorporation.com
For more information, please contact:
The ai Corporation
The ai Corporation
nick.jones@aicorporation.com
EBICS::BOX
How EBICS should have been built - A modern API for bank accounts. Fully automatized processing of incoming and outgoing money transactions.
Railslove
Railslove - Ruby on Rails, JavaScript, and HTML5 web development. We're a team developing products for the web. Web apps are more than our daily business. We closely accompany our clients throughout the process of turning an initial idea into a product ready to launch - and beyond.