It’s important to be able to trust your billing provider with your personal banking information—after all they are dealing with your finances. So how do you know if they’re credible?
The first thing to consider is reputation. Do they have a good reputation in the industry? Do they look after their customers?
The next thing is their credentials. Check if your billing provider has:
- PCI compliance to ensure data is secured according to the highest standards in data protection. Level 1 is the highest standard of PCI compliance, and signals the provider adheres to the highest standards of data security.
- An Australian Financial Services License which is monitored by ASIC and only offered to trusted providers.
- Australian Payments Clearing Association membership to ensure compliance with BECS (Bulk Electronic Clearing System) rules and regulations.
- Fair Trading Association membership to ensure they act in accordance with the Fair Trading Act.
- Sponsorships with banks for the provision of direct debit and merchant services.
By checking these factors, you will ensure that you can trust the provider to deliver your payments in a safe manner that lowers risk to both yourself and your customers.
Read more about Ezidebit’s compliance.