Regulators must enforce stronger payment data protection – CPMI
Payment oversight needs to be updated to accommodate fintech firms and protect consumers
Fintech could exacerbate data protection and privacy concerns if regulatory oversight of the broader payment industry is not updated, according to research from a Bank for International Settlements committee and the World Bank.
In a comprehensive report, the Committee on Payment and Market Infrastructures and the World Bank examine how fintech innovations in the payment sector impact financial inclusion.
“While the increased availability and flow of personal data may be beneficial for
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