m-payments platform provider paythru has
achieved Level 1 PCI DSS 2.0, a required and necessary industry
standard for payments security.

Paythru’s co-founder Russel Sheffield, told
Cards International that “m-payments are already secure”, but that
Paythru can now claim that its m-payment application is as secure
as a banking payments.

“Tokenisation” is the magic word, according to
Sheffield, who added:

“It adds and extra layer of security as it
uses random numbers and letters instead of storing Primary Account
Numbers. Customers can pay using a text message or email through a
tokenised password authentication system.”

Tokenisation removes key data, such as credit
card details (known as Primary Account Numbers, or PANs), from the
transaction process. The PCI DSS 2.0 standard gives guidelines on
how to store, process or transmit card payment data.

These requirements make it necessary for
merchants to asses risk vulnerability. In addition, card readers,
online shopping baskets and other payment applications have to
undergo an extensive code review to assess potential risks.

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According to Sheffield, tokenisation reduces
the extend of the PCI DSS assessment, minimising risk and PCI audit

Sheffield said at the official announcement of
paythru’s achievement of Level 1 PCI DSS 2.0:

“Despite the huge potential of m-commerce,
where effectively any mobile phone can be used to conduct a huge
variety of transactions, the risk of fraud increases if mobile
payment systems are not implemented securely.

“We understood this challenge very early on
and were one of the first in our industry to achieve Level 1 PCI
DSS, so that our clients could reduce the risk of mobile payment
fraud. Tokenisation has always been a central part of our security,
which is why we have now achieved Level 1 PCI DSS 2.0. In fact, we
have taken tokenisation one step further with technology that also
verifies whether the person making the payment is the genuine

Sheffield also told Cards International that
tokens are stored on one only external server rather than being
spread along the payment chain.

That means that for future transactions, this
technology “verifies if the person making the payment is the
genuine cardholder”, he explained.

Now, Paythru has serious plans to expand
across South Africa and Eastern Europe.