The United Kingdom Information Commissioner’s Office (ICO) has approved First Data’s Processor Binding Corporate Rules (BCR) application, granting the company permission to manage customer data across borders.
This approval follows a 2011 decision from the ICO granting First Data its Controller BCR, which specifically applies to the transfer of employee data across countries. First Data is now the first payments technology company to be approved for both BCRs, underscoring the strength of the company’s data privacy protection framework.
Approval by the ICO reinforces that First Data’s data privacy principles are aligned with the European Union’s (EU) Data Protection Directive, which is recognized as the most rigorous data privacy framework in the world. BCRs are considered the platinum standard for compliance with the EU directive.
As one of the first companies in the world to receive a Processor BCR, First Data can now operate under a common set of principles and processes to meet global data privacy standards.
Businesses in nearly 70 countries trust First Data to secure and process nearly 2,000 financial transactions per second, totaling $1.8 trillion a year.
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