Tuesday, January 28th is International Data Privacy Day. We are proud to stand with the National Cyber Security Alliance, as a champion, to empower individuals and encourage businesses to respect privacy, safeguard data and enable trust.
With the California Consumer Privacy Act taking effect this year and other states considering similar legislation, data privacy will become a central issue for businesses in 2020. Yet while consumers conduct much of their lives on the internet via connected devices, few understand the critical issue of privacy and how their personal information is used, collected and shared by businesses.
We recognize a single entity cannot rid our economy of fraud, data breaches, and identity theft, nor will it happen overnight, however, we must all work together to protect consumers from these crimes. The payments industry is working hard to provide safer, more secure technologies to merchants and consumers, and in return, we would like others who say they share our vision to rise to the challenge with us.
We have long believed that collaboration is essential to the advancement of digital payments, as technological improvements cannot take hold if not supported and widely adopted throughout the payments ecosystem. Only by working together will we be able to improve the security of payments for all consumers.