SWAP security

SWAP’s strong commitment to security means confidence for SWAP Merchants.

SWAP ’s technical and operational security framework is fully compliant with South African regulatory and legal requirements and is aligned with the recommendations of the Financial Securities Board (www.fsb.co.za). SWAP is registered with the Payment Association of South Africa (www.pasa.org.za) as a third party service provider in terms of South African Reserve Bank Directive 1 of 2007.

SWAP’s technical security measures ensure that the storage, communication, and use of information amongst system stakeholders is secured at all times. Interactions take place within secure hosted environments at South Africa’s premier ISP, Internet Solutions. Specific standards include the use of prescribed E-commerce encryption standards for information stored within the system and communications between systems and users. Communications between cellphones and the 3 South African cell phone network operators is governed by the GSM communication, authentication, and encryption protocols.

SWAP’s operational security measures place a strong focus on identifying and eliminating any attempt at fraud within the system. Internal system and process rules authenticate users and merchants through accredited credit bureaus, FICA compliance requirements, transaction limits, and comprehensive internal audit specifications and event logging. Additionally, measures are in place to provide system redundancy and capacity with a view toward minimizing system disruptions while delivering exceptional service quality to customers and Merchants alike. 

Safety and security assurance are subject to regular audits in conjunction with continuous scanning of the environment with a view toward keeping pace with developments in electronic commerce, legal, and regulatory environments followed by adjustments to the SWAP environment to maintain alignment with local and international best practices.