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Tim Thompson, NOIRE: "By allowing companies to move faster, NOIRE reduces the risk and cost of doing business"

Monday 23 November 2015 | 10:43 AM CET

The greatest concerns on behalf of our merchant customers swirl around data security, prevention of hackers stealing customer’s details, card details

Could you provide our readers with some insights into your company’s mission, strategy and target markets?

We focus on bringing together best technology, acquiring services, localised regional payment strategies, along with advanced fraud risk management to provide the best payment solution for various use cases, sucg as providing Chinese local payment options for complex business models. Another example is around taking payments in the local currency and settling to a bank account in that region in the local currency to comply with local requirements.

Which are the greatest concerns that your merchant customers express in terms of payments security and how do you mitigate them?

The greatest concerns on behalf of our merchant customers swirl around data security, prevention of hackers stealing customer’s details and card details. In this respect, we provide PCI Level 1 platform security solutions. In addition, we tokenize card details, implying that our customers never need to store a customer’s card.

What does a merchant need to do in order to be able to quickly respond to new fraud threats?

Merchants should protect their business data, such as user accounts and technology environments, in order to identify and stop fraudulent transactions on time. The challenges to managing risk in doing business online are plentiful. We work with our customers to provide the most secure platforms for taking payments in correlation with real time fraud detection on transactions.

What is the impact of multichannel commerce on risk management?

Taking payments from apps on smartphones to websites implies different risk exposure and requires different approaches to mitigating fraud because, for example, fraudsters who gain access to a merchant’s customer account data on one channel, can use that data to breach other channels, respectively.

What benefits does tokenization provide to merchants and payment networks in order to stay secure against fraudulent attacks?

In tokenization, tokens are stored as secure elements instead of card details. They are used for many things, such as recurring payment models, multiple batch payment runs or simply for storing customers cards so they can do another payment without the need to re-enter card details.

The tokens provide additional protection for merchants. They do not need to store customers’ card details, which means that, even if they do get hacked by fraudsters, the data is not there for them to take. There have been recent stories in the press about customer card details and bank details being stolen by fraudsters. However, if these organisations had used tokens instead of storing card details they would not have been exposed to the same level of risk.

Does tokenisation foster or impede innovation in payments?

Tokens are used for multiple batch run payment strategies. Tokens allow customers’ accounts to store card data for reuse without the need to enter card details again. Tokens allow merchants to provide a secure, simple and time saving solution for customers.

Which are the top cybersecurity risks expected to impact businesses and consumers in 2016?

I would say that customer account hacking is a top one. This is where accounts are compromised by fraudsters. There could be online financial accounts, or simple customer accounts used for general ecommerce businesses.

About Tim Thompson

20 years working in leadership roles for venture back successful start-up companies. Specialist in payments and risk management technologies and the complexities around FOREX, financial services, ecommerce, cross border and localized payment methods.



NOIRE is a leading UK-based boutique payment and fraud risk solution provider. The company offers internet merchant accounts and bespoke payment gateway technology, along with pioneering the most advanced risk management and fraud protection technology for companies ranging from FTSE listed companies to small start-up businesses.