We outline the market outlook for data privacy and security in the payment industry — from investment trends, to leading companies, to recommendations for the players in the space.
What is data privacy and security?
Data privacy and security providers protect company, payment, card, and consumer data while reducing regulatory and privacy risks.
Data privacy and security solutions include data anonymization and pseudonymization, data discovery and mapping, consent management, and data request management. Data security protects data in use, in transit, and at rest with encryption, tokenization, anonymization, backup, governance, and monitoring.
Features & capabilities
Data privacy and security solutions provide payment leaders with several capabilities, including the following:
- A modern data architecture with a comprehensive range of privacy techniques
- Advanced decision-making capability through a collaborative machine-learning model
- Software-as-a-Service-powered data security
- Advanced data masking and anonymization
- Extensive audit trails