At NextPay, we are deeply committed to protecting your funds and personal data. We understand that trust is the cornerstone of any financial service, and we have engineered our platform from the ground up with robust, multi-layered security measures to ensure your peace of mind.
To ensure that every user's finances are secure, we take the following measures:
Regulatory Compliance and Trusted Partnerships
Licensed by Bangko Sentral ng Pilipinas (BSP): NextPay is a licensed and regulated payment operator by the BSP. This means we adhere to the stringent security standards and protocols set by the country's central bank.
Powered by Unionbank: Our banking services are powered by Unionbank of the Philippines, one of the country's leading and most trusted financial institutions. This partnership ensures that your funds are handled with the highest level of banking security.
Advanced Account and Data Protection
We employ a variety of measures to safeguard your account and data:
Secure site: NextPay also enforces HSTS, a web security protocol that enforces browsers to interact with NextPay strictly through HTTPS. This ensures encryption of your data, protecting you from malicious attacks.
Data Encryption: Your data is protected both in transit and at rest. We use Transport Layer Security (TLS) to encrypt data transmitted between you and our servers, and we apply strong encryption protocols such as AES-256 to secure your data stored in our systems.
Know Your Customer (KYC) Verification: We conduct a thorough verification process for all users and companies to prevent fraud and ensure that only legitimate entities are on our platform. We require user and company verification and acknowledgment of the Platform Use Agreement, Terms of Use, and Privacy Policy.
Multi-Factor Authentication (MFA): To add an extra layer of security to your account, we support MFA. This ensures that only you can access your account, even if your password is compromised.
Robust Platform Security
Our platform is built on a secure foundation to protect you from threats:
Secure Infrastructure: We utilize a secure cloud infrastructure with firewalls and other protective measures to safeguard our systems from unauthorized access.
Role-Based Access Control (RBAC): The "user permissions" feature allows company owners to control who has access to their NextPay account and what actions they can perform. This is a form of RBAC, ensuring that individuals only have access to the information and functions necessary for their roles.
Maker-Checker Process: For enhanced security on payouts (disbursements), we have a maker-checker process. Payouts require authorization from designated users, providing a crucial check and balance for your financial operations. Payouts can only go through when the authorizer/s have unanimously authorized the payout via a private secure link.
Proactive and Continuous Security
Security is an ongoing effort, and we are committed to staying ahead of emerging threats:
Regular Security Audits and Penetration Testing: We engage independent security experts to conduct regular audits and penetration tests of our systems. This helps us identify and address potential vulnerabilities before they can be exploited.
Secure by Design: Our development process follows the principle of "secure by design," meaning that security is considered at every stage of building and updating our platform.
Your trust is our most valuable asset. If you have any questions about our security practices, please do not hesitate to contact our support team.