Security and Trust at PiggyPot
We know how important it is that your money is safe. We welcome the chance to make it easy for you to set aside funds, but take our responsibilities on Trust and Security very seriously.
We have taken a number of steps to make sure that our valued members can use PiggyPot safely.
Segregated, Safe and Guaranteed
All customer funds are held in escrow by our payment gateway MangoPay. MangoPay holds an E-Money Issuer (EMI) licence granted by the CSSF. They are a PCI-DSS compliant, accredited provider who keep your funds in secure, guaranteed e-wallets.
This ensures that all customer funds are available in full and are not put at risk at any point. We constantly monitor security of customer funds and are working on adding further fund security measures in the near future.
Security - Keeping Your Data and Identity Safe
As an online business dealing in payments, Security is of utmost importance to us. We use bank level encryption and security measures so that customer data, customer orders and payment details are held with the utmost levels of security.
Our payment provider MangoPay holds all payment information. They are PCI DSS (Payment Card Industry Data Security Standard) compliant. PCI DSS is the worldwide standard that was set up to protect sensitive cardholder data. It means they do not have access to any payment details you provide.
Touch ID is also integrated into the app. This requires your print to access the PiggyPot iOS app, adding an extra layer of security.
At PiggyPot, we take fraud very seriously. We have robust fraud protection measures in place across the product, and monitor all accounts and transactions closely.
This includes our requirement for all connected debit cards to be verified before a withdrawal from a pot can be made. This helps us protect against fraud by ensuring you are the owner of the card being used.
Our payment gateway MangoPay employ proven real-time anti-fraud and anti-money laundering methodologies in line with European regulatory rules, to keep your data and transactions safe.
The following measures, amongst others, are in place to prevent fraudulent activity:
- Background checks are carried out background checks into user accounts, including but not limited to electoral role checks, to confirm their identity.
- Payment cards must be in the name of the account owner. We carry out automated and manual checks to ensure this is the case. More than one card can be used through PiggyPot, but cards beyond the first connected card are all subject to manual checks before they can be used.
- Additional Security Checks of any withdrawal or purchase from PiggyPot is subject to additional automated and manual security checks. Where checks are not passed or there is cause for concern, the user will be able to request a refund of all payments back to the original payment card only. PiggyPot reserve the right to request additional photographic identification, or other identification, in any case or for any reason.