Remove Best Practices Remove PCI DSS Remove Risk Mitigation
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Understanding Risk Management Strategies as a PayFac

Stax

However, you must ensure that all systems comply with security standards such as PCI DSS. Regular cybersecurity audits, training your employees in security best practices, and sensitizing them against irresponsible behavior could significantly help safeguard against breaches.

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5 Must-Have Features for Loan Origination System

M2P Fintech

Regulatory Compliance: Helps lenders stay compliant with regulations such as GDPR, PCI DSS, and other financial industry standards, reducing the risk of legal penalties. It also provides lenders with Customized solutions : Offers customized workflows and best practices, boosting operational efficiency.

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What is Payment Facilitation as a Service or PayFac-as-a-Service?

Ikajo

Risk mitigation Given that PayFacs handle the most sensitive information of customers – their payment data – they must keep it secure and detect unauthorized transactions. Vendors with established proficiency in the field have a deep understanding of the complexities, compliance requirements, and industry’s best practices.