Payments technology company mx51 has achieved SOC 2 Type 2 certification, bolstering its bank–grade cyber security credentials.SOC 2 is a compliance framework developed by the American Institute of Certified Public Accountants (AICPA) to help ensure that certified service organisations handle customer data responsibly.This latest certification builds on mx51’s existing cybersecurity credentials. The company’s Merchant Services Platform was built securely from the ground up and already has a PCI DSS Level 1 certified cardholder data environment.This SOC 2 certification includes all of mx51’s product features and systems including in-store integrations, self service dashboards and value added services such as dispute management and data insights.mx51 CEO and co-founder Victor Zheng said: “mx51 has always understood the importance of protecting what is most important to our customers – their data and their reputation. This next step in our compliance journey demonstrates the continued importance we place in cyber security, risk management and the maturity of our products.”“Bank–grade means we can be trusted by customers to handle what is important. We’ve already proven that we are capable of winning and retaining the trust of larger banking customers.“Our SOC 2 Type 2 certification is further demonstration of how seriously we value the trust placed in us and our commitment to operate at the highest level.”The announcement lands ahead of what will be a substantial year of growth for mx51 as it looks to land several more major bank partnerships and expand further abroad.Zheng said: “mx51 growth over the past few years is testament to the fact that we are filling a niche in the market. By helping banks bolster their payments systems, we’re helping them hold onto those key relationships with their merchants. We’re also helping merchants gain more value from each transaction.”mx51 empowers banks, acquirers and merchants to keep ahead of rapidly evolving shifts in payments technology and consumer behaviour

Former Mastercard executive and payments industry veteran Gilles Novel has joined mx51 as the company’s new Chief Product Officer.Novel brings over two decades of payments industry experience to the role, most recently holding the role of Vice President / Head of Acceptance at Mastercard. Prior to this, Novel held senior payment roles at Verifone, Optus and Idemia (Morpho).The appointment comes ahead of what is expected to be a major year of partnerships and growth for mx51. Since raising $32 million in 2022, the company is on track to grow 2x across key customer and financial metrics.In his role as Chief Product Officer, Gilles will be responsible for defining and implementing mx51’s product vision and strategy.Commenting on the appointment, Victor Zheng, CEO and co-founder of mx51 said “With this appointment, mx51 now boasts one of the most experienced teams in the payments sector in Australia.”“We welcome Gilles to the team. His extensive experience across payments in the country will be crucial in delivering on our planned partnerships and also securing more of the local market, as well as expansion into other global markets.”Incoming mx51 Chief Product Officer Gilles Novel said: “It’s exciting to join mx51 at such a significant stage of its growth. In such a short period of time, the company has gone from being a startup to a force within the Australian payments sector.“Given the calibre of payments industry talent within the company already, it’s an honour to be appointed a leadership role within the company. I look forward to helping mx51 charge through the year ahead and reach a new level of growth.”mx51 empowers banks, acquirers and merchants to keep ahead of rapidly evolving shifts in payments technology and consumer behavior