Understanding Canadian Law 25 and Bill C-27
In the rapidly evolving landscape of data privacy and protection, Canadian businesses face significant challenges and responsibilities. Two pivotal pieces of legislation, Québec's Law 25 and the federal government's Bill C-27 have introduced stringent requirements to safeguard personal information. Here, we explore these laws and how solutions from HostedPCI can assist businesses in meeting these new mandates, with a special focus on the data residency feature.
Navigating the Digital Age: A Critical Look at Data Handling
In the wake of a recent notification by a prominent energy management company to its customers about a security issue, the importance of securing Personally Identifiable Information (PII) has once again come to the forefront. The company's proactive approach in informing its customers about the vulnerability that may have exposed their personal information is a commendable step towards transparency and customer care. However, this incident highlights a broader issue in the digital age: the need for robust security measures to protect sensitive information.
The Critical Importance of PII for Client Data Security
In the current digital era, characterized by frequent data breaches and identity theft, safeguarding Personally Identifiable Information (PII) is of paramount importance. PII encompasses data that can identify, contact, or locate a person, including names, addresses, social security numbers, and financial details.
The Power of BIN
The financial ecosystem is a vast, interconnected web of institutions, consumers, and transaction methods. At its core lies an essential component that ensures efficiency and security: the Bank Identification Number (BIN). This short series of numbers may appear insignificant at first glance, but its role in the payment industry is pivotal. Here's why the BIN is so important and the benefits it brings to the industry.
The Crucial Role of Data Residency
In the contemporary, data-driven global landscape, the concept of data residency has emerged as a crucial element that demands attention. Data residency pertains to the specific physical or geographical location in which data is stored, processed, and managed. While this might appear as a technical aspect of the digital world, its relevance is vital for individuals, corporations, and governmental bodies. This blog post delves into the significance of data residency in the modern digital era, emphasizing its growing importance.
ACH Tokenization: Securing Financial Transactions
In the digital world, security is of utmost importance. As we grow increasingly dependent on online transactions for our day-to-day activities, ensuring the safety and privacy of our financial details becomes a top priority. Introducing ACH tokenization: an essential tool for safeguarding sensitive payment details. What is it, and why is it so vital?
Payment Orchestration – A Game-Changer for your Business
In the dynamic world of modern commerce, managing payments can be a complex challenge. The need for a seamless, efficient, and secure payment system is paramount. That's where Payment Orchestration comes into play—a game-changing solution revolutionizing the way businesses handle transactions. Let's dive into the world of Payment Orchestration and how it can transform your business landscape.
Ransomware: Are you prepared?
With the increase in Ransomware attacks over the last year, it seems that’s all we read these days in the headlines. It was estimated that in 2020 the world saw a 150% increase in ransomware attacks and the trend has continued into and throughout 2021. Many businesses around the world are searching for advice on how to increase their security and reduce the threat of becoming the next victim of an attack.
Basic steps for thorough protection
Within the last two years, we have seen many storefronts migrate to a full eCommerce business, as well as other business types are required to provide online payment methods for their customer’s convenience and accommodation due to covid-19 restrictions. These companies that are now collecting customers’ personal information, along with payment information either over the phone or online are exposed to new potential breaches and threats due to the additional collection method.
HostedPCI Delayed BIN feature
By now everyone is adapting to the new 3DS 2.0 and MIT framework mandate which was introduced back in 2019. However, for some merchants, the 3DS 2.0 transaction flow continues to present challenges to their business processes. The most common concern we have received regarding the 3DS process is related to the BIN, while the roadblock may be different from Merchant to Merchant the underlying issue is the same and relates to the 3DS’ need to collect the BIN on the front end before Merchants have had a chance to analyze it.