January 22, 2022

O3 Capital awarded 2022 PCI DSS certification

O3 Capital awarded 2022 PCI DSS certification

By Moses Nosike

A TOP Fintech firm in Nigeria, O3 Capital, has been awarded the Payment Card Industry Data Security Standard version 3.2.1 certification 2022.

The PCI version 3.2.1 compliance certificate was awarded to the firm by a Quality Security Assessor, Sync InfoSec LLC, Roanoke Texas, United States (U.S.), on behalf of the PCI Standards Security Council and in partnership with Digital Encode Ltd, its Nigerian partner.

Chief Visionary Officer, Digital Encode Ltd, Dr. Obadare Peter Adewale, who presented the 2022 PCI DSS to the firm in Lagos, said that the award is a testament to O3 Capital’s commitment.

Adewale explained that the certification is an important endorsement for any organisation whose business operation involves the storage, processing and transmission of card data.

“PCI compliance is an important asset that assures customers that doing business with you is safe or secured. The financial and reputational costs of non-compliance, on the other hand, should be enough to compel any company to put data security first.

“The Payment Card Industry Data Security Standard is a set of compliance requirements put together to ensure that all companies that process, store, or transmit card holder information and data maintain a secure environment. These set of requirements are globally set for compliance purpose,” he said at the presentation.

O3 Capital Chief Operating Officer, Mr. Taye Falana, who accepted the certification, affirmed the company’s commitment to providing a secure environment, which ensures cardholder data is protected all through data storage and transaction processing.

He said although Customer Experience is the cornerstone of the firm’s philosophy, security and data protection cannot be compromised

“This certification aligns with O3 Capitals growth vision, which involves pan-African expansion and partnerships with international institutions that would enhance the value of the O3 Cards and the user experience.

“This is a painstaking journey as 12 strict compliance standards have to be attained in other to acquire the PCI DSS certification.

“After seven years of operations, we have a great understanding of consumer behaviour and provide cash just at the time of need for all cardholders.

“O3 Capital is one of the fastest growing non-banks in the Fintech space in Nigeria fully licensed by the Central Bank of Nigeria and is the first non-bank card issuer in Nigeria,” Falana said.

The firm provides physical and virtual credit cards to individuals, business owners and the un-banked population with limits up to N5 million.

The cards are compatible with all POS, ATM terminals and E-Commerce sites in Nigeria while the mobile app O3Card (on Android or IOS) provides free and seamless transaction functionalities conveniently for all users. O3 is creating a Credit Card culture that offers total freedom and bank less financial services (Bank Agnostic).