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On Track to Financial Inclusion: Bridging the Gap for Individuals with Disabilities

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Embarking on a journey through the intricate web of financial exclusion, we delve into the overlooked challenges faced by vulnerable groups. With a fresh perspective and our unique spin, we embark on an exploration of the impact on older individuals, those grappling with mental health issues, and the disabled community. As we embark on a […]

On Track to Financial Inclusion: Bridging the Gap for Individuals with Disabilities Read More »

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Advantages and Challenges in 2024 for Traditional Banks

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The financial services landscape has undergone a profound transformation in recent years, propelled by the rise of fintech disruptors challenging traditional banking norms. This article explores the dynamic interplay between fintech innovators and traditional banks, highlighting their respective advantages and challenges in a rapidly evolving industry. As the fintech sector faces a challenging funding landscape,

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How Payone’s Non-Compliances May Have Altered Worldline’s Course

Leave a Comment / AML Compliance /

In the fast-paced world of financial services, compliance is paramount. It ensures trust, stability, and ultimately, success. However, publicly available compliance events have cast a shadow over one of the payment’s industry’s key players, Worldline, and its Frankfurt based subsidiary, Payone. The question looms large, has Payone’s non-compliance impacted Worldline, and to what extent? During

How Payone’s Non-Compliances May Have Altered Worldline’s Course Read More »

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Striking a Balance Between Profitability and Compliance in the Financial Landscape

Leave a Comment / AML Compliance /

In the world of high risk merchant accounts and acquiring banks, a peculiar relationship unfolds – a balancing act of profits over prudence, where some the acquiring banks, donned in profit-driven capes, sometimes forget to tighten the bolts of compliance. It’s as if they attend the “Compliance 101” class but skip the practical exams. In

Striking a Balance Between Profitability and Compliance in the Financial Landscape Read More »

Worldline Tackles Share Slump and Braces for Payone’s March 2024 Pension Breach High Court Hearing

Leave a Comment / AML Compliance /

In response to a significant downturn in its share value, leading payment services company Worldline has initiated a strategic move by seeking expert advice from banking advisors. The company’s shareholders are expressing concerns, prompting Worldline to proactively devise a robust defense strategy against the looming threat of a potential hostile takeover. In the wake of

Worldline Tackles Share Slump and Braces for Payone’s March 2024 Pension Breach High Court Hearing Read More »

Ever Wondered? What’s Really Happening When You Tap Your Card at the Store?

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Every time you tap your card or insert it into the terminal, you’re embarking on a fascinating journey through the digital realm. The seemingly mundane act unfolds a series of intricate processes, involving technology, security measures, and a dash of magic. Let’s take a vivid journey through what happens behind the scenes when your card

Ever Wondered? What’s Really Happening When You Tap Your Card at the Store? Read More »

Why Kindness is Not Weakness at Work

Leave a Comment / Employment /

Introduction: In a world marked by economic uncertainty, geopolitical tensions, and the challenges brought on by the modern work landscape, kindness emerges as a powerful tool rather than a mere luxury. Research indicates that cultivating kindness in the workplace not only fosters a positive environment but also yields tangible benefits for individuals and businesses alike.

Why Kindness is Not Weakness at Work Read More »

Appellant’s Challenge Against Worldline’s Subsidiary Payone Moves to Preliminary Hearing

Leave a Comment / Employment /

In a significant development, the Employment Appeal Tribunal has allowed the appeal of Mr. J Logo against Payone GmbH, Stefan Schrader and Axel Boyens to move forward to a preliminary hearing. This decision, marked by the Judge’s recognition of, a number of striking features of the factual history and context, as found by the tribunal,

Appellant’s Challenge Against Worldline’s Subsidiary Payone Moves to Preliminary Hearing Read More »

Leadership Changes at Worldline SA Subsidiary Amid Regulatory Challenges

Leave a Comment / AML Compliance /

Frankfurt, Germany – Payone GmbH, a leading name in the electronic money and payment services sector, is navigating a crucial period of regulatory and leadership changes. Amidst this transformative phase, the company announced Dr. Matthias Böcker’s appointment as Chief Risk Officer (CRO), a move indicative of its renewed focus on compliance and strategic growth. Context

Leadership Changes at Worldline SA Subsidiary Amid Regulatory Challenges Read More »

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Post-Brexit: data protection
Card processor sends sensitive data to wrong address
24 August 2022

Worldline SA subsidiary Payone GmbH has been accused of breaching data protection rules after it sent sensitive employee payroll information to the wrong address by accident. The Worldline Group holdS a 60% stake in the Frankfurt based company who have a small UK market presence.

In June 2021, one of Payone GmbH’s ex UK employees (the data subject) received a “potential data breach notification” from the firm advising him that his salary, National Insurance data, nationality (Special Category Data) was amongst various bits of information sent to an incorrect home address.

This included personal information such as the former employees name, age and address.  It also included details such as the date of birth and the amount of annual work bonus he received in his bank account amongst other identifiable data.

Payone GmbH confirmed that this document was sent out in error following an employee making a mistake when re-entering data processed by their third-party payroll provider.  The error arose when the employee was fulfilling an Article 15 GDPR request. The error was spotted by the data subject when he noticed in an email version of the document that the postal address was incorrect. An attempt to notify Payone GmbH of the error went in vain as the document was already irretrievably despatched.

The data subject was alarmed with the incident which exposed him to the possibility of fraudulent activity, amidst reasonable fears his data could end up on the dark web and used by criminals.  Habitually resident in the UK he complained to the Information Commissioner’s Office (ICO) in June 2021. He similarly raised the concern in Germany via The Hessian Commissioner for Data Protection and Freedom of Information (HBDI).

The ICO reprimanded Payone GmbH for the error in their final decision letter.
Similarly, the HBDI cited a violation of Article 5(f) of the General Data Protection Regulation (GDPR) relating to integrity and confidentiality.

The ICO stated in their July 2021 findings that Payone GmbH, “should take steps to ensure that all personal data records are accurate and up to date. Holding inaccurate information, such as addresses, does increase the risk of personal data breaches and poses risks to the security of information”.

The HBDI confirmed in their October 2021 findings that Payone GmbH had taken remedial action. They concluded that a monetary fine would not be imposed on Payone GmbH as they had taken technical and organisational steps in response to the data breach. Data subjects could now request their data in an autonomous portal.

The GDPR, which came into effect in 2018, gave the Information Commissioner’s Office greater powers to tackle data breaches. The new ‘UK GDPR’ charts its own course after Brexit whilst seeking to maintain EU GDPR adequacy.  In extreme scenarios, organisations face penalties of up to £20m or 4 per cent of their global worldwide turnover, whichever is more.

In the years prior to GDPR, the ICO fines were capped at £500,000.

The data subject said: “I am just glad I spotted it; they were going to resend the document again to another wrong address. Prior to Brexit the process would have been commenced via the ICO who in turn would liaise with the HBDI on the data subjects’ behalf; but I found myself communicating with both authorities separately which was an additional step but in the end was surprisingly
effective. Unfortunately, Payone GmbH again sent my incorrect address to the
Workers Pension Trust in January 2022, and documents yet again went to the wrong address. In my opinion they have not learned from the first time and my complaint is sitting with the ICO yet again”.

The former employee is pursuing a remedy under Article 82 UK GDPR via
the Court’s of England & Wales.

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