Compliance, Enterprise Data Protection
How Data Security Enables Cross-Regulatory Compliance for Payment Service Providers
Payment service providers (PSPs) in all geographies, especially those that operate internationally, have to comply with a slew of data protection laws & regulations. While these different regulations may differ from each other in some aspects, most have the same core requirements in common, such as protection of sensitive data and timely notifications in the event of a breach. In order to minimize redundant work and get the most out of compliance efforts and investments, PSPs should map out in what ways applicable regulations overlap and develop an overall cross-regulatory compliance strategy.
This document looks at the overlapping requirements of PCI DSS and GDPR as an example for developing a cross-regulatory compliance strategy.
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