Phishing is a common tactic employed by hackers, as it requires the least amount of effort and generally preys on the less cyber-aware. In 2019, the FBI produced a report which estimated that more than $1.75 USD billion was lost to business email scams. Unfortunately, email phishing scams are also common in Australia.
In most phishing scams, hackers impersonate a real company to obtain your login credentials. You may receive an e-mail asking you to verify your account details or sign in with a username/password. Providing these details to a phishing site delivers your information directly to the attackers.
In some cases, more sophisticated phishing attacks includes information that makes the attacker seem like a legitimate source. They may use Company Names and/or phone numbers in the e-mail to trick you into thinking they have a connection to you, making you more likely to click a link or attachment that they provide.
To avoid phishing schemes, please observe the following email best practices:
During the last few months, Yak Pay has continued to innovate and has launched a number of great new features. With everything that is currently going on, it might be easy to have missed some of these announcements, so we thought that we would summarise all of these exciting announcements here in one place for you.
]]>At Yak Pay, we have always placed a high priority on protecting our systems and data against cyber attacks. We have a comprehensive security program based upon the Payment Card Industry Data Security Standards (PCI DSS). PCI DSS is a security framework introduced by the card payment schemes to safely and securely accept, store, process, and transmit cardholder data to prevent fraud and data breaches.
We are proud to state that we have undertaken the highest level of PCI Compliance. This includes having an Annual Report on Compliance (RoC) completed by a Qualified Security Assessor (QSA), performing monthly network scans through an Approved Scan Vendor (ASV), and an annual Attestation of Compliance (AoC) form also completed by our QSA.
As part of this ongoing compliance program, our Qualified Security Assessor (QSA) conducts two external penetration tests (you can think of these like "ethical hacks") on our platform each year. In addition, our software development process and change management systems include security planning as a fundamental part of our application development and maintenace lifecycle.
Here is a summary of some key security achievements relevant to our platform:
We invite any questions you may have regarding our security program and record. Please forward all security requests to:
Mark Nimco
Chief Technology Officer (CTO)
Email: help@yakpay.com
Phone: 1300 925 729 (1300 YAK PAY)
On April 7th 2020, Yak Pay released their latest feature to help Australian small businesses better manage their cash flow.
Called the "Negotiator", the new feature enables small business credit card holders to optimise cash flow by enabling them to offer "pay early discounts" or "pay more later" terms directly with their suppliers.
The Negotiator automatically reschedules the payment so that the suppliers receive the agreed funds on the agreed date, through the convenience and security of Australia's leading B2B digital platforms, Payment Logic and Yak Pay.
In these testing times for all businesses, this new functionality will help small businesses pay invoices, maintain good relationships with suppliers, and have the tools to support flexible payment arrangements, all which are essential for small business day-to-day operation.
The new Negotiator functionality allows the credit card holder two options.
The two payment platforms strive to empower small businesses to make their payments as easy, fast, secure and now as flexible as possible.
To learn more about Yak Pay's Negotiator functionality, please click here
]]>In these uncertain times, we want to convey a positive message of business continuity. To maintain our support to you we have already set our business up to operate through the Coronavirus threat. Our two businesses, Yak Pay and Payment Logic, have grown to support more than 6,000 businesses like you and we will continue to offer the same day to day service to help you with the following:
We promise to keep on delivering this service with the same friendly customer service we have always offered. If you have any questions, please give us a call on 1300 925 729.
]]>After launching Yak Pay at Xerocon in Brisbane 2019, the Yak Pay team decided to be part of Xero’s Roadshows across Australia and showcase new features added to the platform.
At 5 roadshows in Albury, Geelong, Narre Warren, Adelaide and Perth, with more than 2300 attendees representing accountants, bookkeepers and exhibitors, Xero Roadshows 2020 was a great way to have quality one on one conversations with attendees at each event.
Lots of Yak Pay T-shirts, notepads and USB’s were given out to the attendees, which enabled us to generate 200 leads over the 5 different venues. Importantly, many of those leads have now either become referrers and/or customers of Yak Pay.
]]>We are pleased to announce a brand new Payee File Upload feature within our platform. This exciting new feature makes it easy to import payee data from an external system into Yak Pay.
]]>The Payment Logic group today announced its two apps, Payment Logic and Yak Pay, have been added to the Xero app marketplace, available to Xero’s Australian customers.
The Payment Logic group offers Australia's leading B2B payment platforms enabling businesses to pay any valid expense via their credit card. Yak Pay was launched in partnership with Visa, allowing businesses to use both Visa and MasterCards when paying bills. Payment Logic has also been processing payments via American Express cards since 2013. Both platforms now have apps in the Xero app marketplace.
Payment Logic CEO, Sam Plowman said: "Our app integration with the Xero platform is a fantastic addition for our clients. The integration enables businesses to save time, by processing hundreds of invoices via credit cards in just seconds, which automatically updates in Xero - ready for reconciliation. All whilst increasing security by ensuring that card details are not shared with multiple suppliers or payment administrators."
"With more than 50% of our client base using Xero, these apps will benefit the majority of our clients. The early feedback from clients has been exceptional and we look forward to further improving our apps."
Payment Logic group processes more than $1 billion B2B payments annually, and is recognised as one of Australia's fastest growing fintechs.
]]>You may have noticed that Yak Pay has been in the news. As we have launched in Australia there has been considerable interest within the Fintech community and we have now been featured in at least 13 articles that we know of. In case you missed them, here are some of the articles who have recently featured Yak Pay:
https://www.smartcompany.com.au/startupsmart/news/fintech-payment-logic-visa-yak-pay/
https://www.pymnts.com/news/b2b-payments/2019/visa-payment-logic-partner-australian-accounts-payable-yak-pay/ https://www.youtube.com/watch?v=aH9xCAsTMIo
https://www.itwire.com/deals/visa,-payment-logic-partner-to-launch-yak-pay-for-smbs.html
https://www.verdict.co.uk/cards-international/news/visa-payment-logic-australian-smbs/
https://australianfintech.com.au/100-payments-in-seconds-startup-piques-visas-fintech-interest/
]]>Having never been to Xerocon, the Yak Pay team was both excited and a touch nervous about what to expect at Australia’s most anticipated cloud accounting conference.
Sure enough, Xerocon was an awesome experience, and was the perfect stage to launch Yak Pay, our newest payment platform accepting Visa and MasterCard B2B payments.
With more than 2,500 delegates representing accountants, bookkeepers, exhibitors, finance representatives and even some investors, Xerocon 2019 was buzzing from the moment we set- up to the final drink at the festival-style wrap party.
The Xerocon 2019 team was so supportive leading up to, and throughout, the event; helping us to feel welcome and ensuring we were able to make the most of every business building opportunity. They set our expectations to expect about 200 leads and gave us tips on how to follow up the leads following the conference.
Situated in the payments corner with some big players like Pay Pal and Square, we though we better do something special to stand out. And what better way to do that than to introduce the carnival spinning wheel and make “everyone a winner” of our merchandise (t-shirts, USBs and notepads)!
It was the perfect icebreaker and enabled us to generate almost 400 leads over the 2 days. Working closely with the Visa team who were Gold sponsors of the event, we were able to pitch the Yak Pay message to many of the delegates at Xerocon, and all our merchandise was given away amongst a lot of fun.
We launched Yak Pay, excited new customers are joining the herd, accountants and bookkeepers are signing up to the referral program, and the Yak Pay movement has begun.
Thanks Xerocon; we’ll be back and so will the Yak Pay wheel ☺
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