PayYantra Innovations Private Limited completed the initial audit for IAS-accredited ISO/IEC 27701:2019 Certification for Privacy Information Management System (PIMS).
The scope of the management system includes The Privacy Information Management System of the Organisation Extends the Established ISMS to Include the Processing and Protection of Personally Identifiable Information (PII) Within Its Fintech Platforms and Services, Including Digital Transaction Processing, Payment Orchestration, Customer Lifecycle Management, Onboarding Processes, API-based Collections and Disbursements, Beneficiary Verification, Merchant Onboarding, and Fraud Risk Monitoring Solutions, Ensuring Compliance with Applicable Privacy and Data Protection Requirements in Its Capacity as Relevant Under Applicable Law.
Apart from this, PayYantra Innovations Private Limited can also apply forGeneral Data Protection Regulation (GDPR) and ISO/IEC 42001:2023 Certification.
What is ISO/IEC 27701:2019 Certification?
ISO/IEC 27701 is an international standard for Privacy Information Management Systems (PIMS). It extends the well-known ISO/IEC 27001 and ISO/IEC 27002 to specifically focus on privacy and personal data protection.
Benefits of ISO/IEC 27701 standard for PayYantra Innovations Private Limited
PayYantra Innovations Private Limited can adopt ISO 27701 certification for Privacy Information Management Systems (PIMS). These are:
- ISO 27701 helps PayYantra Innovations Private Limited systematically protect personal data and reduce the risk of breaches or misuse.
- The standard requires PayYantra Innovations Private Limited to conduct risk assessments and implement controls to mitigate identified personal data security risks.
- ISO/IEC 27701 assists in meeting requirements of privacy laws like GDPR and other data protection regulations.
Conclusion
PayYantra Innovations Private Limited attained ISO/IEC 27701:2019 certification to underscore its commitment to privacy safety and information security. PayYantra Innovations Private Limited sets a benchmark for excellent service delivery and information security by fostering trust and confidence.
