Enhanced Cybersecurity Shield for an Online Payments Company

The compliance changes and security audit results revealed their critical vulnerabilities. The company urgently called for a solution to manage payments effortlessly without downtime while ensuring compliance with security standards.

We’ve reinforced the usual expert team with crucial Cybersecurity specialists and DevOps engineers. They’ve focused on in-depth vulnerability assessments and implemented security measures.

At the same time, testers and QA engineers performed additional penetration testing and automated security audits to detect and mitigate security threats, while AI specialists worked out up-to-date reporting features.

Given the significant financial risks inherent in FinTech operations, reaching USD 4,88 million per incident, we’ve implemented specific countermeasures for each identified risk vector, including:

• Payment fraud and unauthorized access (Man-in-the-Middle (MitM) attacks, unauthorized fund transfers, etc.)
• Real-time AI-powered threat and phishing detection system.
• Compliance procedures with the Payment Services Directive 2 (PSD2), General Data Protection Regulation (GDPR), and other financial regulations.
• Securing API integrations with third-party financial services.

We’ve reimagined the security approach for all client’s billing services. Our 360-degree protection plan has delivered proven results, so now:

• Added Transport Layer Security 1.3 encryption prevents MitM attacks.
• An AI-powered real-time fraud and phishing detection system analyzes over 200 transaction parameters in real time to identify potential threats.
• Tokenization has replaced common card data with unique, non-sensitive tokens.
• An extra Multi-factor authentication (MFA) layer prevents unauthorized access.
• Regular API security audits enforce rate limiting to ensure fair resource allocation.
• Strong Customer Authentication (SCA) for fund transfers ensures compliance with PSD2.
• Payment Card Industry Data Security Standards, including Mastercard and Visa, prevent fraudulent card transactions.
• OAuth 2.0 and JSON Web Token (JWT) authentication secure mobile payment APIs.