InPayTech picks up timely certification alongside internal strategic review

Integrated Payment Technologies (ASX: IP1) has provided some added impetus to its overall performance as the company undergoes a significant strategic review.

The financial technology business received an industry-standard ISO accreditation and hailed the award as being indicative of its continued focus on “strategic initiatives”.

In a statement to the market, InPayTech said it is now certified under a significant global information security standard, helping to support the continued expansion of the business under its current strategic review.

The ISO 27001 certification is a widely recognised and internationally accepted information security standard mandating numerous controls for the establishment, maintenance and certification of an information security management system.

The award adds further credibility to InPayTech’s product range and it is hoped will increase brand loyalty and attract future sales.

“This is an important external validation of InPayTech’s information security credentials. Information security is clearly a bedrock requirement for InPayTech, its clients and business partners,” said Robin Beauchamp, chief technical officer of InPayTech.

Scaling approvals

Back in April of this year, InPayTech was granted patent approval for its payments process in the United States, a milestone that was expected to facilitate InPayTech’s ability to maximise the utility and benefit of the patented solution for clients, partners and shareholders.

The US approval follows patents in a number of countries in the Western world, including South Africa and New Zealand, for the InPayTech payments process.

In Asia, InPayTech’s patent approvals include China, Japan, Hong Kong and Singapore with a pending patent application in Canada and Australia.

“Our clients trust us with highly sensitive data. Each demands compliance with industry standards. We are confident InPayTech has the necessary controls in place to meet this expectation and the pre-requisites for the commitment to high levels of security,” said Mr Beauchamp.

“It is highly encouraging to see growing external validation of the strategic focus underway inside InPayTech. Part of the net proceeds of the recent capital raising were earmarked by InPayTech to attain and maintain industry accreditations, strengthen the balance sheet and continue with the development of the ClickSuper, STP and PayVu solutions,” said InPayTech chairman Don Sharp.

This morning’s news helped InPayTech shares to stage a 8.33% rally up to $0.026.