The French Data Protection Authority’s white paper discusses how companies can comply with data privacy and security obligations.
The use of card, contactless, and innovative digital payment solutions has significantly increased in recent years, fueled by the immediate impacts of the ongoing COVID-19 pandemic and the longer-term growth of e-commerce and open banking. In this context, the legal and regulatory environment around payment data is no longer limited to traditional actors in the banking sector or the long-established ambit of banking secrecy rules. As such, stakeholders from fintech startups to established technology giants face an increasing patchwork of compliance obligations.
In recognition of the rapid innovation in the digital payment sector and the complexity of the payment ecosystem, the French Data Protection Authority (CNIL) has published a white paper that provides an overview of the digital payment landscape and the applicable legal framework, with a focus on how companies
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