European legislation called the General Data Protection Regulation (GDPR) is set to apply as of 25th of May 2018. It will definitely change how personal data are being processed in Europe, enhancing the right to privacy of individuals. From the payments perspective, it will also impact payment service providers (PSPs).
Therefore, if not yet done, PSPs need to take immediate actions to ensure their practices are in accordance with this legislation. On this occasion, the European Payments Council publishes an infographic, offering an overview on what the GDPR will mainly change for PSPs, how to be GDPR compliant as well as how the revised Payment Services Directive (PSD2) interacts with it.
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