GDPR and Data Protection in Payments

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The General Data Protection Regulation (GDPR) governs how personal data is collected, stored, processed, and shared in the EU. It ensures that individuals maintain control over their data and that businesses implement strong privacy measures. Non-compliance can result in fines, legal action, and reputational damage.

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Payment providers handle sensitive personal and financial data, making GDPR compliance critical. This includes secure data storage, encryption, data minimization, consent management, and transparent privacy policies. Businesses must also respond to data access or deletion requests promptly.

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Monavate embeds GDPR principles into its platform, encrypting cardholder and transaction data, implementing strict access controls, and automating privacy workflows. This ensures that fintechs and businesses handle customer data securely, maintain trust, and comply with international privacy standards while delivering fast and seamless payment services.

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