Next Payments' Commitment to Data Security
September 27, 2023
Next Payments leverages over 20 years of industry experience to provide a comprehensive range of secure and leading payment and technology solutions to the hospitality and gaming sector. We understand that operating in this industry requires sufficient understanding of the landscape and sensitivity of the information being exchanged, hence we are dedicated to protecting sensitive information and ensuring compliance with stringent regulations. We are committed to collaborating with our clients to develop fit-for-purpose products that exceed industry demands and ensure venues are ready for the future.
As a pioneer in payments and technology solutions, Next Payments has a number of procedures, policies and corporate governance in place surrounding:
• Data system security (both logical and physical access)
• System availability and stability
• Processing integrity
Next Payments is a trusted partner for several prominent financial institutions in Australia, serving as an Austrac formatted reporting agent for mandatory reporting under Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations. We specialise in key areas such as Know Your Customer (KYC) and Know Your Business (KYB) procedures, reporting transactions of $10,000 or more (TTRs), suspicious matter reporting (SMR), and implementing value, velocity, and risk management processing.
We maintain certified security levels across a range of systems and cloud services to securely store personal banking information and conduct annual penetration testing by certified third party, Tesserent (ASX:TNT), ensuring the security of all payment-integrated channels. Next Payments' technology procurement processes involve thorough certifications, background checks, and monitoring of third-party technology acquisitions.
Next Payments ensures the security of its financial operations through a series of rigorous measures. These include annual financial audits with Macquarie Bank, as well as regular integrity audits conducted by Ernst and Young for the funds under management from Westpac. We strictly adhere to comprehensive risk management, disaster recovery, and business continuity protocols. Additionally, Next Payments is regulated by ASIC under Australian Financial Services License 474743, further enhancing our commitment to financial security.
Beyond the robust security measures we have implemented, one of our top priorities in our operations is nurturing meaningful relationships with all our customers that go beyond mere transactional communication. We have a top-end support structure in place to ensure that no question is left unanswered, from queries on data privacy to product troubleshooting. Our extensive range of solutions are backed by our dedicated team of Business Development Managers, local 24/7 support team, and field technicians nation-wide. Furthermore, our in-house research and development team continuously oversees and enhances all of our products to ensure the utmost security for all hardware and software components.
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