Beating credit card fraud with PCI compliant solutions

The Problem

It’s estimated that fraud can potentially account for between two and three percent of the bottom line for financial services companies, with Card Holder Not Present Fraud proving a key challenge for payment card providers and their merchants. That’s why the leading card operators have come together to create the Payment Card Industry Data Security Standard (PCI DSS) – a set of industry-wide requirements and processes aimed at fighting payment card fraud.

PCI compliance is especially applicable to the contact centre environment, where many organisations are failing their PCI compliance audits through the incorrect capture and storage of prohibited customer card data such as account PIN blocks and CVV2 security codes. This is a particular concern for businesses that have to record their calls for FSA compliance reasons, and don’t have any means of consistently halting recordings during the exchange of sensitive payment card data.

The Solution

To address this, Sabio has developed a new credit card payment solution – Sabio Secure Payments – that helps contact centre operators meet both their PCI compliant payment card obligations as well as their FSA compliance monitoring requirements. Sabio’s solution combines self-service and call recording technologies to create the first truly integrated answer to this challenge. Sabio Secure Payments acknowledges that you can’t rely on live agents to always halt interaction recording at the critical payment stage, so instead shields agents from the need to handle sensitive customer data (and exposure to potential fraud) by transferring customers to a secure, speech-enabled credit card payments line.

The Result

Using Sabio Secure Payments ensures that payment card merchants can meet both their PCI and FSA compliance requirements. Customers benefit from the security and re-assurance of not having to share their card account details, while contact centre operators will receive a rapid ROI as the cost of the solution can be quickly recouped through the productivity savings that are achieved by automating the caller verification process.