Plooto Security Fact Sheet

Plooto is a secure cloud-based payment management system trusted by businesses across Canada and the United States. This fact sheet outlines how Plooto protects sensitive financial information and ensures secure payment processing.

Plooto does not store banking information.

Section 1 below outlines the facts related to pre-authorized debits. Section 2 below outlines facts related to credit card transactions.

Note 1: There is a 2.9% surcharge for credit card transactions

Note 2: Plooto uses the highest levels of encryption and has never had a security breach

SECTION 1

1️⃣ Bank-Level Encryption

All data transmitted between your device and Plooto’s servers is protected with 256-bit SSL/TLS encryption, the same level used by major banks.

2️⃣ Two-Factor Authentication (2FA)

Plooto supports two-factor authentication to add an extra layer of account security. A unique time-sensitive code is required along with your password.

3️⃣ Secure Tokenization

Plooto does not store your full bank account credentials. When you link an account, your banking information is used once to establish a secure connection. Plooto then creates a secure encrypted token, which authorizes future payments without storing your actual account numbers.

4️⃣ Direct Bank Integrations

Plooto integrates directly with major banks and credit unions through secure APIs and trusted banking partners, reducing the risks associated with sharing bank details manually.

5️⃣ Read-Only Bank Access

After the secure connection is established, Plooto does not retain access to your banking credentials. It cannot access or control your account beyond executing the payments you authorize.

6️⃣ Compliance & Security Best Practices

Plooto complies with Canadian and U.S. privacy laws. It uses advanced firewalls, intrusion detection systems, and undergoes regular security audits to ensure customer data remains secure.

✅ Key Point

Plooto does not store or retain actual bank account credentials. Instead, it uses secure encrypted tokens to process future payments safely and privately.

For more information on Plooto’s security measures, visit www.plooto.com or contact your administrator.

SECTION 2

Understanding Online Credit Card Processors and Plooto’s Role

When businesses accept credit card payments online, they virtually always rely on third-party payment processors or gateways. These intermediaries securely handle sensitive card information, connect to card networks like Visa and Mastercard, and manage authorization, fraud protection, and settlement.

Most Online Payments Use Third-Party Gateways

Very few businesses connect directly to card networks. Instead, they use trusted third-party platforms such as Stripe, PayPal, Square, Authorize.Net, or Moneris. These gateways ensure compliance with PCI DSS security standards and provide the technology needed to process and settle transactions securely.

Where Plooto Fits In

Plooto is a Canadian-based financial technology platform that provides secure payment processing for businesses, focusing mainly on accounts payable (AP) and accounts receivable (AR) automation. Plooto facilitates direct debit transfers, pre-authorized debits (PAD), credit card transactions, and cross-border payments, acting as a secure intermediary between businesses and financial institutions.

Plooto’s Size in Canada

In Canada, Plooto is recognized as a reputable player in the AP/AR automation and secure electronic payments space, especially among small and mid-sized businesses and accounting firms. While it has a strong and growing user base, Plooto is smaller in scale compared to the largest general-purpose payment gateways and processors such as Moneris (Canada’s largest), PayPal, or Stripe. It serves a more specialized niche focused on business payment workflows rather than being just a universal consumer-facing payment processor.

Key Takeaway

Almost all online credit card transactions use third-party payment processors or gateways for security and compliance reasons. Plooto is an example of such a secure payments platform, focusing primarily on streamlining business payments rather than on consumer credit card processing at retail scale.