GDPR and secure payments: What if we Brexit?
For the past few months we’ve heard a lot about how the General Data Protection Regulations (GDPR) are going to harmonise the current data protection laws in place across the EU member states.
Replacing the existing Data Protection Directive from 1995, it will come with severe penalties of non-compliance of up to 4% of worldwide turnover.
The Commission's primary objectives of the GDPR are to give citizens back the control of their personal data. It’s a while off yet and not legally binding until 2018, but regulators such as the Payment Card Industry Security Standards Council (PCI SSC) are urging organisations to act now and not leave it too late to get their processes and procedures in place.
GDPR is a ‘regulation’ not a ‘directive’ which means it will be directly applicable to all EU member states without a need for a national implementing legislation.
“Ah! but what if the UK exits the EU?” I hear you ask? “Surely the GDPR will not apply to British organisations?”
For those organisations sitting on the fence waiting to see what outcome the referendum will bring this week, you’re unfortunately wasting your time. Nothing will change!
If you’re a UK company accepting personal or payment card details from European customers, if we leave the EU, you will have to comply with the same or similar (possibly more complex) regulations to protect the digital economy and ensure secure payments.
So whether we exit or not, you need to get ready for GDPR. It’s either conform to the regulations, or refuse trade with one of the most accessible markets to the UK.
But don’t despair! If you handle personal or card data, there are ways to manage this that are easier than you think. If you want to get in touch for a chat about how, please contact us.By: Nicky Hjerpe
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