Gr4vy, the cloud-native payments infrastructure company, today announced the completion of SOC2 Type 2 certification to ensure the management of customer data to the highest level of integrity, privacy and security. The successful completion of SOC2 and PCI1 certification in June of 2021 validate that Gr4vy offers an advanced enterprise-grade payment orchestration solution that is fully compliant across the board.
“We understand that with the prevalence of data breaches and security concerns, merchants require a POP and solutions that deliver the highest level of trust, reliability and security,” said Ali Minaei, co-founder and CTO of Gr4vy. “That’s why our platform is one of the few that is both SOC2 and PCI1 compliant. We’ve specifically designed our POP to reduce the security burden for merchants. We are committed to delivering an advanced privacy and security posture and the most comprehensive cloud-native POP on the market.”
The global payment security market is expected to reach $47.7 billion by 2027, demonstrating growth and the need for continued payment data security. In today’s market, it’s more crucial than ever that service providers and payment orchestration platforms (POPs) maintain trust with all payment stakeholders while locking down customers’ data.
SOC2 is a standard for service organizations developed by the American Institute of CPAs (AICPA), which defines how organizations should manage customer data. It ensures that systems are set up to assure customer data security, availability, processing integrity, confidentiality, and privacy. SOC2 certification applies to technology-based service organizations that store customer data in the cloud.
Gr4vy’s SOC certification is another security measure that further reinforces the company’s powerful payments platform that leverages single-tenant, cloud-based infrastructure to empower merchants to deploy, manage, customize and optimize payments through one simple integration. Gr4vy eliminates single points of failure and shared infrastructure risk, taking the hassle out of merchants building and managing a payment system. The company offers next-gen payment infrastructure to ensure merchants can grow and implement new services with no additional cost, technical debt or extra development time to scale faster than ever.
If you’re a merchant looking to grow internationally and you’re interested in learning more about payment orchestration, download our eGuide, ‘IaaS vs. SaaS: An e-commerce merchant’s guide to payment orchestration’, to discover which platform is best for your needs – including building a payment orchestration layer in-house.
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