Breet Prioritizes Security Ahead of Crypto Card Launch

Nigerian crypto-fintech company Breet is preparing to enter the cryptocurrency-backed payment card market in Africa. The company has obtained comprehensive PCI DSS 4.0.1 certification, the industry standard for payment card data security, before releasing its card products to customers.

Breet's special projects manager, Ifeoluwa Onasami, highlighted that card operations introduce significantly more responsibility for handling payment and card data compared to a traditional crypto-to-fiat conversion service. "If users are going to fund a card through Breet and use it, the systems need to meet recognized payment card security standards before launch," Onasami stated.

The company previously focused on converting cryptocurrencies into local currencies. It is now expanding its offering with virtual and physical Visa cards, enabling users to make purchases and international payments directly from their digital assets. This shortens the conversion process and addresses the growing demand to use cryptocurrencies for daily transactions, such as subscriptions and online shopping.

The development of card operations brings significant challenges, including stolen card details, fraudulent transactions, chargebacks, and system downtime. Breet has aimed to anticipate these risks by investing in security and meeting PCI DSS requirements, which cover both technical and operational aspects. The goal is to ensure a reliable and secure user experience for all customers.