PYMNTS

APRIL 12, 2019

The General Data Protection Regulation (GDPR) represented a new phase in data security and EU regulators’ approach to it. Nearly one year since GDPR came into effect, there remain uncertainties about issues like accountability in cases of data breaches at data sharing partners. A Global Framework.

Cybersecurity

VISTA InfoSec

JUNE 3, 2024

In such attacks, cybercriminals exploit weak or reused passwords to breach multiple accounts, leading to significant data breaches and financial losses. These may include: SOC1/SOC2: Service organization control reports that assess controls related to financial reporting and data security.

MFA

Fi911

FEBRUARY 29, 2024

The Importance of a VAR Sheet for Banks For banks, the VAR Sheet holds particular significance, offering a multitude of benefits: Risk Management: By detailing security measures and compliance protocols, the VAR sheet helps banks mitigate the risk of fraud and data breaches associated with payment processing.

VARS

Fintech Review

JUNE 12, 2024

These challenges include legacy systems, regulatory compliance, and cultural resistance to change. Additionally, the integration process involves ensuring data interoperability and security, which can be complex and time-consuming. New technologies introduce new risks, such as cybersecurity threats and data breaches.

Risk Assessment

Stax

MARCH 18, 2025

Because of this,the concern for payment security is at an all-time high. To keep the system of securing financial information and cardholder information safe, a multi-pronged approach to payment processing data security is imperative. Encryption protects sensitive data by encoding it before sending it out.

PCI DSS

Stax

NOVEMBER 6, 2023

Loss, corruption, improper use, and unwanted access to a company’s data assets can lead to immense negative publicity, which in turn can cause irreparable reputation damage, fines, sanctions, and loss of profits. Moreover, companies need to follow data privacy and compliance requirements to stay in business.

Encryption

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management

PYMNTS

JANUARY 29, 2019

The latest research from Cisco on the topic suggests executives may want to loosen the purse strings when it comes to cybersecurity investment, because the spend is paying off — including in ways beyond regulatory compliance.

Cybersecurity

The Payments Association

OCTOBER 4, 2024

Security concerns and fraud prevention One of the most significant challenges is the persistent threat of fraud. Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches.

Online and Mobile Banking

PYMNTS

OCTOBER 6, 2017

Cybersecurity weighs heavily on corporates’ minds, especially when incidents like the Equifax data breach occur. But often, businesses prioritize security of customer data, then safeguard internal company data. Experts warn some companies could be missing a huge area prone to data hacks: payroll.

Payroll

Stax

MARCH 15, 2024

Compliance with these standards ensures that merchants and payment processors implement robust security measures to safeguard financial data. These standards help prevent card-present fraud by authenticating transactions through dynamic data authentication and cryptographic processes.

Process

Segpay

APRIL 22, 2024

Replacing sensitive card details with unique digital tokens significantly reduces the risk of data breaches and unauthorized access to card information. For merchants, this means greater peace of mind, knowing customer data is protected throughout the payment process. PCI Compliance.

Data Breach

EBizCharge

JULY 3, 2024

Regulatory Compliance Maintaining regulatory compliance is critical, given the ever-evolving nature of industry-specific legislation and standards. Safety Concerns over data security and the safety of sensitive financial information are paramount.

Regulatory Compliance

Segpay

JANUARY 30, 2025

As financial institutions, these companies must implement risk management procedures and regulatory compliance to prevent reputational and financial damage. High-risk classified businesses should partner with a PSP that understands high-risk business from a regulatory and a processing perspective.

Merchant Payment Processing

Nanonets

JUNE 27, 2023

Document digitization provides enhanced security measures, such as encryption, access controls, and backup options, ensuring the confidentiality and integrity of sensitive information. Regulatory compliance and auditing Compliance with industry regulations and retention policies is critical for businesses.

Product

EBizCharge

JULY 18, 2024

Enhanced data security The security protocols inherent in EDI payments are rigorous, ensuring that sensitive financial information is protected. This compliance reduces the risk of legal issues and fines, as it guarantees that transactions meet the necessary data security and privacy standards.

ACH

EBizCharge

MAY 14, 2024

These benefits include time efficiency, improved accuracy, enhanced customer service, scalability, cost savings, regulatory compliance, insights and analytics, and integration with other systems. This reduction in labor costs translates into direct savings for businesses, as fewer resources are required to manage billing operations.

Automation

Nanonets

NOVEMBER 16, 2023

This shift is pivotal for businesses looking to scale, as it directly impacts areas like operational efficiency, financial accuracy, vendor relationships, regulatory compliance, and strategic decision-making. It's a transformation from traditional, manual handling of outgoing expenses to a more efficient, digital approach.

Automation

Nanonets

AUGUST 22, 2023

Finance and Banking: Financial institutions deal with vast amounts of data, including transaction records, account balances, investment portfolios, and risk assessments. Excel automation can streamline financial analysis, reporting, budgeting, and regulatory compliance processes.

Automation

Nanonets

MARCH 30, 2023

OCR technology can also help improve data security and privacy. In healthcare and medical establishments, there is a high level of sensitivity around patient data. OCR technology can help ensure that patient data is accurately and securely entered into EHRs, reducing the risk of data breaches and other security issues.

Automation

Segpay

MARCH 10, 2025

However, challenges such as technical compatibility, regulatory compliance, and security risks must be addressed to ensure a smooth, secure, and legally compliant integration. Tokenization & Encryption All sensitive payment data is encrypted and tokenized, reducing the risk of data breaches.

Payment Gateways

Nanonets

AUGUST 16, 2024

  With automation, insurers can automate repetitive tasks such as manual data entry and document verification, speed up claim processing to increase efficiency and accuracy and minimize errors and fraud. Robust cybersecurity measures are crucial to protect against data breaches, malware, and other threats. 

Automation

EBizCharge

MAY 12, 2025

Encryption protocols safeguard payment details, like credit card numbers and bank account information, adding a robust layer of security. Tokenization Tokenization is a security measure that replaces sensitive payment information with non-sensitive tokens. Storing less data also aligns with compliance requirements.

Process