How ‘The Protection of Personal Information Act’ (POPIA) will impact SA’s Payments Landscape
The Protection of Personal Information Act, 2013 (POPIA) came into full effect on Thursday, July 1, 2021.
The Act is the comprehensive data protection legislation that obliges organizations to lawfully process the personal information of data subjects (both natural and juristic persons) by applying specific principles and conditions.
But how will it affect the payments space specifically?
“As businesses in the payments industry process copious amounts of personal information, they now have to change many elements of the way they operate in order to accommodate the Act,” says Cecil Munsamy, Managing Director of AVeS Cyber Security and a consultant to Pay@ – a leading payment aggregator and provider of secure payment solutions.
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Every journey starts with a “where”.
Knowing where to start, where to go, and how to get there, are vital. Your POPIA readiness journey is the same. Assess, plan and fix what your business needs.