Prioritizing Privacy & Security
Keeping your timeshare business safe while protecting your members, owners and other stakeholders is critical to your success, but keeping up to date with the latest regulation, fraud and data protection requirements across different geographies can be burdensome for any organization. When it comes to fee payments, the easiest way to ensure the security and safety of your payers is to partner with a payment processor that takes these issues as seriously as you do.
82% of financial professionals reported in 2018 that their organization experienced attempted and/or actual payments fraud.
Ask your provider if they comply with the following regulatory standards:
SOC II Type 2 (SOC 2)
Evaluates the operational procedures and technical controls within a service organization that accesses, stores, and processes customer data. The assessment is based on strict information security policies and procedures that measure the organization’s ability to properly manage and protect the security, availability, processing integrity, and confidentiality of customer data. Learn more about SOC II.
The industry standard for companies that accept, process, store, or transmit credit card information. This certification was specifically designed to reduce credit card fraud by ensuring secure environments and increasing the controls around cardholder data. Learn more about PCI compliance.
EU-US Privacy Shield
A framework designed to ensure that US-based companies adhere to the rules of the European Privacy Act when they do business with European entities. Specifically, the General Data Protection Regulation (GDPR) provides stipulations on how personal data can be exchanged for commercial purposes between the European Union and the United States.