Chinese online payment provider YeePay has received the National Information Security Certification from China Information Technology Security Certification Center.
The company is the first independent third-party payment provider to attain such certification. CNITSEC is the government authority responsible for IT security evaluation and certification in China. It is mandated for IT security products, information systems and service providers to ensure product and service quality and security management. The certification and evaluation processes include assessment of the system design, analysis of security procedures, tests of critical product or service elements, and onsite inspection of system operations. YeePay received the certification after going through a rigorous set of systematic evaluations conducted by CNITSEC.
YeePay's platform was designed and developed with high security standards in mind. The transaction system is built on IBM technology stack, which is widely used in mission critical and high security systems in China's banking and financial services industry. YeePay work closely with major banks to implement various security measures to minimize risks, including data transmission encryption, security key management, cardholders' information isolation, service access logging, real-time transaction monitoring and preemptive fraud detection.
Yeepay says surveys on e-payments consistently indicate that security has been users' paramount concern in China. The new CNITSEC certification assures that YeePay's payment platform meets all the required security standards, provides consumers and merchants with the confidence that they can send and receive payments securely and reliably using YeePay's service.