Darktrace and Paybay Partnership Makes Digital Payments and Services Safer
Darktrace, one of the world’s fastest growing cyber threat defense companies and Paybay, leading company in digital payments and loyalty systems, have reached an agreement to integrate their technology platforms, in order to strengthen the security of Paybay’s digital payment systems and services.
The agreement includes the installation of Darktrace’s flagship Enterprise Immune System technology, which is capable of detecting advanced, previously-unseen cyber threats from within the network, at the heart of Tytn, Paybay’s payment and VAS platform, which currently manages over 700 million financial and VAS transactions per year.
Cyber security is a critical priority for the enterprise market. At the end of 2014, according to Global State of Information Security Survey 2015, the number of cyber-attacks amounted to nearly 43 million, increasing by 48% over the previous year. The integration of Enterprise Immune System technology, powered by advanced machine learning and mathematics, allows Paybay to have full visibility of all digital interactions processed by Tytn and to detect, in real time, potential threats or transaction fraud, in order to reduce risks to its customers.
Paybay will handle the system customization for its parent company, QUI! Group, an award-winning provider of corporate and social welfare solutions, electronic money, merchant networks and loyalty systems in Italy, with a market share of over 15% and a turnover of over €600 million. The group has a total of 20 million users, more than 7,000 customers and 1,000 employees.
“Darktrace’s technology is excellent because it gives us a real-time view of all our data interactions and detects emerging threats, without requiring prior knowledge or pre-defined rules,” said Pierluigi Simonetta, CEO at Paybay. “At QUI! Group, we manage over 60 million financial and VAS transactions per month and we are dedicated to providing the best service to our customers, so working with Darktrace is the best way to ensure that we stay up-to-date with new threats and protect all our managed data in a proactive way.”
“We are delighted to be working with Paybay, a truly innovative company in Italy that is leading its market in cyber security,” said Corrado Broli, Country Manager Italy, Darktrace. “Today’s announcement highlights the real need for a new approach to cyber security based on the principles of the immune system, delivering proactive cyber intelligence capable of addressing threats from within an organization’s firewall”.
Digitization, Research and Development, Innovation. These are the constants with which Paybay, Digital Company made in Italy with a complete expertise in Digital Money, Loyalty systems, Couponing and Smart City, has established itself on the Market in little more than 6 years. It is a young company with a turnover of 3 million euro and with an average annual growth of 30%. A team of over 60 employees (with average age, 28 years), who has worked on the realization of disruptive projects and on the development of an innovative platform, Tytn, for the integrated management of the payment and the value added services like ticketing, loyalty, and couponing.
Darktrace is one of the world’s fastest-growing cyber defense companies and the leader in Enterprise Immune System technology, a new category of cyber solutions based on pioneering Bayesian mathematics developed at the University of Cambridge. Darktrace addresses the challenge of insider threat and advanced cyber-attacks through its unique ability to detect previously unidentified threats in real time, as manifested in the emerging behaviours of the network, devices and individuals. Some of the world’s largest organizations rely on Darktrace’s adaptive, self-learning platform to spot anomalous activity within the enterprise, in sectors including energy and utilities, financial services, telecommunications, retail and transportation. Darktrace was founded by world-class machine learning specialists and operational government intelligence experts. The company is headquartered in Cambridge, UK, with offices in London, Milan, New York, Paris, San Francisco and Washington D.C.
Alessandro Tommasiello, [email protected], +39 3207528138
Emily Orton, [email protected], +44 207 839 6798