Our security priorities
Our company is entirely governed by the Czech legislation and a full regulation from the Czech National Bank and the Ministry of Finance of the Czech Republic as an institution of electronic money. We fulfil a lot of legal requirements and criteria; some of them are as follows:
1. Capital adequacy
The minimum capital requirement of our company is set to 2% of the total volume of issued electronic money. At no times it is less than 350,000 Euros.
We maintain sufficient liquidity of funds to be able to reimburse all issued e-money to our customers at any time.
3. Insurance of your deposit
Based on the particular legal rules we protect our client’s deposited funds on bank accounts with a special regime. Each client's account is insured up to 100,000 Euros in accordance with the Czech legal system.
4. Funds investments
We can invest the client’s funds only in accordance with the strict criteria and regulations of the Czech National Bank.
5. Control system
On a regular basis we apply manual and automated control mechanisms in order to manage the risks and minimize their impacts. Appropriate records are systematically stored and incompatibilities are evaluated.
All processes and activities are applied in accordance with our internal directives which are subject to the Czech National Bank regulation.
7. Risk management
We systemically prevent attempts to legalise proceeds of criminal activities by applying a system of internal guidelines and AML Policy under the Act on measures against money laundering and financing of terrorism No. 253/2008 Coll. The control system is governed by our security department that continuously analyses and evaluates financial risks and threats.
8. Company management
Our key employees at the management level are subject to the control of required education and experience in the financial management. We provide regular training to our employees and test their eligibility, in order to ensure the maximum and continuous safeguarding of funds against financial loss due to fraud, misuse, negligence or mismanagement. Furthermore, we place high demands on the separation of key personnel jobs.
9. Information technology
Only our employees develop our system; we do not use outsourcing. At the same time we apply the most advanced technologies with a territorially separated architecture to achieve the maximum availability and top quality of the GoPay payment system.
On a regular basis we are successfully certificated at different levels of the procedural, financial and security audit. This guarantees a high quality of our GoPay payment system. The procedure also includes a regular PCI DSS certification because of a storage and processing of payment card information.