Learning from Payment data breaches
As consumers, merchants, fintechs, banks, regulators - payment data breaches has lessons for all of us on how we mitigate / live with them and minimise impact.
Mobikwik, JusPay breaches risked millions of users’ payments data. Years back, India had largest Debit Card Hack leaking 32 million debit cards. Data security will be an ongoing concern irrespective of data laws / technology and in this session, we will look at how each one of us in payments ecosystem - from consumers, merchants, fintechs, technologists, banks, regulators to governments look at payments data breaches and learn lessons from them.
Audience definition - for consumer awareness only? Or are we giving feedback to:
- Paytech and fintech companies on how to better their systems.
- RBI
- Digital payment infra like NPCI
- Banks
Feedback on what?
- How to protect consumer data?
- Safer digital products by doing tokenization?
- KYC document storage or rethinking KYC itself?
What do we want to tell consumers for mitigation?
- Have a second phone number for wallets, etc?
- Don’t save cards.
- Don’t do what else?
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CashlessConsumer is a consumer collective working on digital payments to increase awareness, understand technology, produce / consume data, represent consumers in policy of digital payments ecosystem to voice consumer perspectives, concerns with a goal of moving towards a fair cashless society
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