Company
November 19, 2019

Jesse Bannister

How we protect and ensure your valuable payment data is secure

Protecting your company’s valuable credit card data is essential to ensure your business runs smoothly. We get it. The security of your data and transactions through Ollie is our highest priority. So, make yourself comfortable, grab a drink, and let’s talk about how Ollie works with Stripe to ensure your valuable payment data is safe and sound.

Protecting your customer’s credit card information is an important part of maintaining your business’s reputation. Our team has experience securing billions of dollars in credit card transactions for businesses around the world. We’ve leveraged this experience to design a payment processing solution that mitigates the risk of data breaches by using the leading payment processing technology in the world. 

How does it work?

Ollie works with our partner Stripe to store & process credit card transactions. Our CEO Ryan Wilson says:

“We chose to partner with Stripe because they are the global leader in payment processing. Stripe is used by Google, Amazon, Slack, Lyft and millions of other businesses around the world.
As the leading solution provider globally Stripe already has more than 90% of North American credit cards on file in their card vault. Stripe is like Moneris, Square, Paypal and other payment processors except that they have better technology. Smart companies choose Stripe because of their advanced anti-fraud, security and operational capabilities."

 

When a credit card number is entered into Ollie, although it appears to be sent to Ollie, it is actually sent directly from your browser to Stripe’s secure card vault. Stripe stores this card and returns a reference number and the last 4 digits of the card number to Ollie. We store this information and then in the future we only need to provide the reference number to Stripe in order to charge the card. 

The card never leaves Stripe's secure vault and never touches any of Ollie or your IT systems. This solution is independently audited annually by firms approved by Visa or Mastercard and is used to process more than $100,000,000,000 a year in transactions. 

Stripe’s advanced capabilities let us do things like 

  • put your invoice number on your customer’s credit card statement after your name to aid in the resolution of reconciliation issues. 
  • Automatically update expired/replaced credit cards so that you don’t have to. 

Additional Reading:

https://stripe.com/en-ca/payments/payment-methods-guide


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