Cashfree, a popular company in India providing products such as payment gateways, has set an example today. The news is Cashfree achieves ISO Certification in order to improve its information security. The ISO Certification for Cashfree will be a valuable strength point to expanding and managing the business.
In this article, we will discuss the news as Cashfree achieves ISO Certification for Data Security.
Cashfree achieves ISO certification for data security
ISO 27001 Certification was achieved by Cashfree’s information security management system. It is a certification that outlines International standards in a management framework for information security.
According to the Payment Card Industry (PCI) standards, Cashfree also possesses the PCI-DSS v3.2.1 certification to ensure the safety of credit card transactions.
Due to the strict adherence to these requirements, companies are able to ensure that the cardholders’ information is secure and protected.
Therefore, Cashfree will also now avail of the benefits of the ISO 27001 Certification.
CEO’s Statement as Cashfree Achieves ISO 27001
In the words of Cashfree’s CEO Akash Sinha, “Data security should be the first consideration of every firm seeking for an online payment platform.” Everyone’s needs are different, but security is a major consideration when picking a payment platform. Security has always been Cashfree’s primary concern as a firm.”
Know about Cashfree
Cashfree is a full-stack payment system that integrates all aspects of payments. From vendor payments, salary payments to bulk refunds etc. it is utilised by more than 50,000 Indian enterprises to accept and send money.
Furthermore, there is a rise in digital transactions. As a result, Secure data storage is essential for payment networks, given the exponential increase of digital transactions.
In order to improve its fraud mitigation and cybersecurity technologies, Cashfree is presently developing proprietary artificial intelligence (AI). To assess whether a transaction should be approved or declined, Cashfree’s AI-driven risk and fraud protection system examines over 100 payment characteristics in seconds.
What is ISO 27001 Certification?
The International Organization for Standardization(ISO) is an independent and non-governmental body. It aims to make International Standards that are accepted worldwide to facilitate quality products and services. There are several types of ISO Certification each signifying its own unique standards and concepts.
ISO 27001 Certification is a globally recognized standard published by the International Organization for Standardization (ISO). It provides several essential security standards.
For example, Today is the era of cloud computing, where data leakage can adversely impact the reputation of any firm that operates digitally. ISO 27001 certification gives assurance of absolute security of the data.
Benefits of Having ISO 27001 Certification
There are many benefits to ISO 27001 certification. These are some of the greatest advantages.
- Firstly, ISO 27001 protects your company’s personal information.
- Secondly, the standard gives customers and stakeholders confidence that data protection has been properly managed. ISO 27001 also ensures that investors and startups can share information in a safe manner.
- ISO 27001 is a sign that your company fulfils its legal obligations. It helps in compliance with legal requirements.
- Startups or Companies like Cashfree can reduce the likelihood of data breaches by implementing ISO 27001 standards. Effective training is also possible by clearly defining the roles and tasks of employees from the beginning.
ISO 27001 is, in conclusion, the most trusted safety standard worldwide. This standard certification is now common in most businesses. Most importantly, ISO 27001 Certification in India, or anywhere else in the world, shows that your company has an information safety management program to reduce information security threats and follow the best international practices.
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