GM Sectec, Visa Help LatAm, Caribbean Boost Cybersecurity

Global cybersecurity firm GM Sectec and global payments company Visa are working together to step up fraud prevention and cybersecurity best practices in the Latin American and the Caribbean region.

As a further extension of the existing alliance between GM Sectec and Visa, in partnership with Visa’s Cybersource solution, the region will receive payment and risk management services supported by GM Sectec’s cybersecurity expertise, according to a Wednesday (Sept. 21) press release.

Through this collaboration, both companies will continue communicating with the financial ecosystem about the importance of cybersecurity, support solutions to mitigate threats, safeguard the integrity of their systems and protect consumers, per the release.

See also: Banks Pilot Information-Sharing Projects to Reduce Fraud

“One of the biggest concerns for businesses and organizations of all types, sizes and industries is how to protect the personal data and sensitive information of hundreds of thousands of users, customers and consumers who rely on them to conduct their daily transactions through various channels and platforms, many of them digital,” said Hector Guillermo Martinez, president of GM Sectec.

“The strengthening of our partnership with Visa, will allow organizations of all types across the payment system to engage cyber defense best practices with the support of a trusted cyber defense leader,” he added.

For the fourth year in a row, GM Sectec and Visa are also continuing the PaySec Talks program, an educational initiative to teach organizations about the importance of protecting their data by being prepared with cybersecurity tools and procedures.

The release noted that through the partnership, GM Sectec offers Visa clients PCI validation services, cybersecurity consulting and fraud prevention assessments.

Learn more: PYMNTS Intelligence: How Merchants Are Meeting Latin American Millennial, Generation Z Consumers’ Payment Preferences

“For Visa, keeping the digital movement of money secure is our number one priority,” said Eduardo Perez, chief risk officer for Visa in Latin America and the Caribbean. “Partnerships like this one, enables us to continue to innovate in solutions that provide buyers and sellers with increasingly secure, convenient, and frictionless payment experiences, both online or physically at the point of sale.”