Regulation & ComplianceFirst Data gets all clear to move customer data around world

First Data gets all clear to move customer data around world

The UK’s Information Commission Office (ICO) has approved an application by First Data to share personal customer data across international borders.

The UK’s Information Commission Office (ICO) has approved an application by First Data to share personal customer data across international borders.

This will allow the payment and transactions technology provider to use and store customer information sourced in one nation or jurisdiction in overseas branches, departments and locations.

To get clearance, the payment technology provider had to submit a Processor Binding Corporate Rules (BCR) application to the government agency. This is used to show that a company is able to keep in line with the EU’s Data Protection Directive, the toughest data security framework in existence.

First Data is among the first companies in the world to meet its strict requirements.

First Data should be commended for its commitment to the concept of binding corporate rules and for the respect for the privacy of individuals that this demonstrates,” said David Smith, ICO Deputy Commissioner, in a statement. “The ICO welcomes approaches from multi-national organizations that need to share personal information within their own group, but outside Europe and who want to use binding corporate rules to enable that.”

In 2011, the ICO also granted First Data its Controller BCR, allowing the company to transfer employee information across national borders.

Related Articles

Bringing cryptocurrency to the front line  

Payments Bringing cryptocurrency to the front line  

2m Karen Vickers
China’s regulatory changes stimulate international interest

Asia Pacific China’s regulatory changes stimulate international interest

3m Michael McCaw
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
AccessPay offers free tool to help corporates utilise PSD2

Payments AccessPay offers free tool to help corporates utilise PSD2

4m GTNews
Many treasurers juggle increased GDPR burden with business restructuring

More News Many treasurers juggle increased GDPR burden with business restructuring

4m Victoria Beckett
The arrival of PSD2: views from the market

Banking The arrival of PSD2: views from the market

4m Victoria Beckett
PSD2: dull name, but seismic effect

Clearing & Settlement PSD2: dull name, but seismic effect

4m Alex Kwiatkowski
PSD2: the death of MT940s?

More News PSD2: the death of MT940s?

4m Victoria Beckett