payments

Nexi and orderbird Collaborate to Launch New Payment Platform for German ISVs

Leave a Comment / Fintech, Payments, Retail /

Nexi, a leading European payments company, and its subsidiary Orderbird, a provider of Point of Sale (POS) systems, have announced the launch of the Nexi Partner Portal (NPP) in Germany, according to Fintech Finance News. This new platform is designed to streamline payment processing for Independent Software Vendors (ISVs) across various industries, including retail and […]

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Bridging the Gap: M-Pesa’s Role in Financial Inclusion

Leave a Comment / Payments /

Smartphone apps and contactless payments are commonplace and it’s easy to take for granted the convenience and security of modern financial transactions. However, for millions of people in developing nations, access to traditional banking systems remains elusive. Brick-and-mortar banks might be inaccessible, leaving cash as the only option – a risky and limiting proposition. This

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Tide and Adyen Make a Splash in Germany’s Fintech Scene

Leave a Comment / General /

Tide and Adyen, prominent figures in the financial services sector, have merged their prowess. Tide and Adyen, leaders in the financial sector, have amalgamated. The distinguished corporate financial institution Tide has collaborated with global financial facilitator Adyen to introduce corporate accounts tailored for small and medium-sized enterprises (SMEs) in Germany. These specialised Tide corporate accounts

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Initial Contact, Lasting Compliance – Cold Calls in the KYC / KYB Journey

Leave a Comment / AML Compliance /

When you delve into the riveting realms of Know Your Customer (KYC) and Know Your Business (KYB) protocols, don’t overlook the unexpectedly vital role played by those often underestimated heroes: the cold callers and sales teams. Though rarely celebrated as the face of formal compliance, these front-line troops are actually key players in initiating customer

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Bank of England Signals Cautious Optimism for Payments Revolution

Leave a Comment / Payments, Retail /

At the Innovate Finance Global Summit 2024, Sarah Breeden, Executive Director of the Bank of England, outlined the institution’s measured yet optimistic stance toward the rapid innovations occurring in payment systems. Breeden highlighted the Bank’s twin roles as regulator and participant in the UK’s financial infrastructure – a position that demands fostering innovation while safeguarding

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The True Cost of Online Shopping Refunds: What Retailers Need to Know

Leave a Comment / AML Compliance, Payments, Retail /

Online shopping may be easy, but refunding or returning stuff? That’s a whole different journey. This complexity can be likened to a passenger deciding to reverse their journey after entering a subway system. When a shopper decides to return an item, they initiate a financial transaction that is a reversal of the original. In this

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Spotlight on Nets: Pioneering Payment Solutions in Europe

Leave a Comment / AML Compliance, Payments, Retail /

The Nets story Nets, the result of a strategic merger between Denmark’s PBS and Norway’s BBS in 2009, has grown to become a significant force in the European payments industry. With the acquisition of Finland’s Luottokunta in 2012, the company catapulted into the top league of European payment processors. Nets has demonstrated a remarkable ability

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Crédit Agricole and Worldline Unveil CAWL In Crowded French Fintech Market

Leave a Comment / Payments, Retail /

In a bold move within the realm of payment services, global paytech giant Worldline and leading French banking institution Crédit Agricole have joined forces to introduce CAWL, a new joint venture aimed at revolutionising merchant payment solutions in France. The unveiling of CAWL marks a significant milestone in the ever-evolving landscape of financial technology, promising

Crédit Agricole and Worldline Unveil CAWL In Crowded French Fintech Market 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 »

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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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