With more and more organizations using the cloud to host their applications, the scope of e-commerce and the volume of non-cash payments will continue to increase. The greatest growth will be found in developing countries where wireless communications and mobile devices are reaching even the remotest corners.
The cloud strategy you adopt—private, hybrid, public or multicloud—is a key factor in the decision as to which encryption key management strategy will work best for your enterprise. For best results, your key strategy should fit your long-term cloud strategy and should be applied consistently across your enterprise.
Stored and accessible PII, which is broadly defined as any information that could be used to identify an individual, facilitates these transactions for all consumers. However, near-weekly reports of significant data breaches have raised concerns about the ability of retailers and other organizations to keep consumer records secure.
By opening up consumer data and allowing access via APIs, PSD2 gives non-banking firms a chance to compete with banks in the digital payments business by building financial services platforms on top of the bank’s own data and infrastructure. For instance, a social media site could begin enabling people to pay bills there, or a FinServ firm could offer budgetary strategies based on complex analytics of personal income and spending data.
So how can Equinix help companies of all sizes meet the challenges of GDPR compliance? First, with expertise. The reality is that GDPR and emerging privacy regulations globally affect every one of our customers, and our industry as whole.
The best approach to delivering each of the aforementioned capabilities is an HSM as a Service (HSMaaS) solution. It leverages the established strengths of the cloud—wide availability, service on demand and scalability—to make encryption keys easy to implement and manage.
GDPR passed the EU Parliament in April 2016, and it goes into effect at the end of May this year. Enterprises everywhere are in the middle of figuring out its implications. At Equinix, we know there are lots of questions, and we have prepared some answers to highlight how Equinix is approaching its own GDPR compliance and how we can help customers and partners be ready when GDPR is enacted.