The certification means that Creditpipes switch has been reviewed by Visa Internationals auditors and found to be compliant with the rigorous standards set by Visa International for the acquiring and secure transmission of confidential financial transactions. CreditPipe undergoes regular security and process reviews by external independent auditors and security consultants such as PriceWaterhouseCoopers (PWC), Standard Bank, Nedbank, Visa International, MasterCard and other experts in the fields of financial processing security. The Visa International audit team was led by the associations e-risk auditor, who travelled from London, and who was accompanied by a representative from Visa International South Africa. The EMEA division employs a dual audit process that has a minimum of two auditors reviewing each process simultaneously. This ensures fairness, impartiality and an in-depth understanding of systems. The audit was detailed, ranging from physical security inspection to software security and transaction flow, and resulted in CreditPipes certification of Visa Secure Electronic Commerce Requirements for Mobile Payment Hosts v1.0. A critical component of CreditPipes system security is the nShield hardware security module (HSM) cryptographic security device from nCipher, supplied by local business NamITech. The technology, also successfully audited by Visa International, helps combat fraud by encrypting financial information using 3DES encryption in a secure, tamper-resistant hardware device that secures sensitive information and data. In addition to this level of security, CreditPipe also employs 3-D Secure, a joint Visa International, MasterCard and Europay specification allowing secure universal commerce, including mobile commerce.
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