PayFast is committed to keeping Studio 838, our customers and all sensitive information secure. They have a multitude of automated and manual checks in place to protect both buyers and sellers from fraudulent transactions. Online retail has a fraud rate between 1 and 2% of all transactions. Through effective controls, PayFast’s is currently below 0,2% and still going down.
PCI-DSS Level 1 Compliant
Extended Validation SSL with 2048-bit encryption. Only two of the four major South African banks use this –the highest– level of encryption currently available.
All sensitive info is encrypted within our own database.
They run penetration testing on their system on a weekly basis to look for vulnerabilities. They are only required to do it once every three months, but they run it every week.
Their entire site, blog, payments page and help site all are served off secure servers, making it harder to perpetrate phishing attacks.
3D Secure is in place for all credit card transactions.
Two-factor authentication is available to restrict access to your PayFast account.
They use GEO IP tracking to see where transactions are originating from and look for mismatches between this and the card’s issuing country.
Their system automatically checks for suspicious payment velocity.
They use BIN/IIN validation to check for card-issuing bank locations and merchants can choose to enable/disable payments from certain countries.
Payments and card details are automatically checked against large online databases of blacklisted details.
All suspicious transactions are manually reviewed by their stellar Support Team.