Protection and storage of personal information
The protection and storage of personal information are critical aspects to ensure the security and privacy of individuals' sensitive data. Transactpay, banks and payment processors implement a variety of security measures to safeguard personal information. Here are key aspects related to the protection and storage of personal information in the payment industry:
- Encryption:
- Data in transit: Payment transactions and communication between systems are encrypted using secure protocols like TLS (Transport Layer Security) to prevent unauthorised access during transmission.
- Data at rest: Stored data, including personal information, is encrypted on servers and databases to protect against unauthorised access. - Secure Data Storage: Implement secure data storage practices, including access controls, regular security audits, and monitoring, to ensure that stored personal information is protected from unauthorised access.
- Access Controls: Restrict access to sensitive information to authorised personnel only. Implement strong authentication mechanisms, such as two-factor authentication, to enhance access security.
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