Remove Encryption Remove Laws Remove MFA
article thumbnail

Wallet wars: How digital payments are reshaping finance

The Payments Association

End-to-end encryption plays a crucial role in enhancing payment security, as Zurnamer tells Payments Review: We have the likes of Apple Pay and Samsung Pay using secure element technology and encryption to process payments without storing card numbers on devices or servers.

article thumbnail

Guarding the Gates: Data Compliance and Privacy

Segpay

These pioneering laws represent the first significant initiatives by governments to establish regulations that protect individuals’ data, aiming to give people more control over how their information is collected, processed, and stored. Fines for non-compliance can range from $2,500 to $7,500 per violation.

Privacy 105
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

New York Bolsters Cybersecurity Requirements

Global Fintech & Digital Assets

Under Section 41 of the Banking Law, the DFS superintendent can remove an officer or director for violating “any law or duly enacted regulation of the superintendent” relating to a regulated banking institution. A covered entity’s CISO may, however, approve the use of reasonably equivalent or more secure compensating controls.

article thumbnail

Everything You Need to Know About PCI Compliance for Credit Card Processing

Stax

Protect Stored Cardholder Data Organizations must protect stored cardholder data and other credit card information using encryption, masking, hashing, or other methods to make the data unreadable to unauthorized individuals. Additionally, sensitive authentication data must never be stored after authorization, even if encrypted.

article thumbnail

What is an EFT Payment? Everything to Know About This Method of Payment

Stax

Advanced encryption techniques are used to protect sensitive data during transmission, ensuring that personal and financial information remains confidential. Compliance requires implementing robust security measures, such as encryption and authentication protocols, regularly auditing processes, and staying updated on regulatory changes.

article thumbnail

Finance AI Tools that are Disrupting the Industry

Nanonets

Like other fintech tools, Planful and Predict protect their users’ financial data with MFA as well as layers of the latest encryption technology. Its AI sorts transactions by country and currency to ensure finance and tax compliance with different countries' laws. 💡 Is it secure?

AI 94
article thumbnail

Security Awareness Training: What It Is, Its Importance & How to Implement It

Seon

Network security maintenance : The use of regularly updated firewalls and encryption systems. Password management : Using multi-factor authentication (MFA) and password managers. Key topics include: Latest regulatory compliance updates : The most recent news about security authorities and their protocols.