At myPOS, security always comes first! We take our responsibility as a registered financial institution very seriously. The highest industry standards for protecting your data and funds are constantly maintained at myPOS. From state-of-the-art encryption and built-in app features to corporate training, external third-party audits, constant monitoring and bank-grade security infrastructure.
Here are some of the security measures we have implemented:
Secure Internet Payments
myPOS is fully compliant with the European Banking Authority’s Guidelines on the security of Internet payments. We are also authorised and regulated by the FCA as an electronic money institution, the Payment Service Regulation of 2017 and the Electronic Money Regulations of 2011.
myPOS is duly registered as a personal data administrator with the Commission for Personal Data Protection under number 0050022 and all customer data is collected, transferred and maintained in accordance with the principles incorporated within the EC Directive 95/46 on the protection of personal data and with the Data Protection Act, 2002 of the Laws of Bulgaria (and any amendment thereof).
The personal data regarding the merchant that is provided by the merchant as well as by third parties such as state and international authorities, which have competence in the prevention of fraud, is preserved in electronic form on servers, collocated in TIER 4 data centres located in Class A jurisdictions in Europe with the highest level of communication coverage, security, and control of access.
Our advanced systems offer real-time monitoring and protection from suspicious traffic and behaviour. А dedicated team of information security specialists is closely working with the engineering teams to ensure that our applications, dataflow, and infrastructure remain secure at all levels.
Licenses and Certifications
myPOS is PCI DSS certified and goes through an annual audit to maintain this status. The PCI Data Security Standard (DSS) is created by Visa, MasterCard, and other well-respected debit/credit card providers. It is entirely based on their years-long experience in dealing with countless security threats while securing their customers' data.
myPOS is a licensed and regulated Electronic Money Institution. As such, we follow very strict customer funds safeguarding procedures. We do not re-invest our customers’ funds and we are required by law to keep our finances separate. Therefore, your money is better protected than in standard bank deposits
Fraud Prevention Mechanisms
Real-time monitoring and protection against suspicious transactions, data traffic, and behaviour are constantly working in the background to ensure smooth operations. The two-factor transaction authorisation and limits are also available to every myPOS merchant.
myPOS merchants enjoy 24/7 money monitoring, automatic fraud prevention, real-time notifications, transaction limits and webhooks for specific events.
All monetary operations require authorisation. You will get instant notifications straight to your mobile device every time. Notifications are a great way to make it harder for any fraudulent activity to go unnoticed. This gives you peace of mind that you are the only one who has control over your account, funds, POS devices, and business card.