[Case Study] FSS Response Advisory for Payment Gateway Company K
In the fintech era, PG company inspections are on another level
The overwhelming moment of receiving an electronic payment processing business inspection notice
Payment gateway Company K received an FSS inspection notice. The person in charge was bewildered. This is a completely different domain from bank inspections.
The entire process from payment data generation to settlement is subject to inspection. Merchant settlement processes, management of unsettled funds, and deposit operations all must be reviewed.
Why PG company inspections are special
PG companies operate in a domain where finance and IT are combined. The regulatory perspective differs from traditional financial services.
Compliance with PCI-DSS security certification is verified. Card information encryption systems are examined for adequacy. Information leak prevention systems are reviewed for proper operation.
Above all, delays in merchant fund settlements or potential misappropriation are intensively examined. Whether user protection measures are substantially operational is also verified.
Former FSS attorneys provide direct advisory services
Our law firm has former FSS attorneys directly handle PG company inspection responses. We know exactly what inspectors focus on.
We understand the unique regulatory environment of the fintech industry. We have a clear grasp of the complex application relationships between the Electronic Financial Transactions Act and the Specialized Credit Financial Business Act.
Our fintech response process
Stage 1: IT and Information Security Status Assessment
We examine PCI-DSS certification status and card information processing systems. We verify personal information protection frameworks and security control status.
Stage 2: Electronic Financial Business Regulation Mapping
We examine compliance with obligations under the Electronic Financial Transactions Act. We verify adherence to user protection regulations.
Stage 3: Fund Management System Review
We review the adequacy of merchant settlement processes. We verify transparency in unsettled fund management and deposit operations.
Stage 4: User Protection Review
We examine dispute resolution procedures and compensation systems. We verify the adequacy of terms and conditions and compliance with disclosure obligations.
To PG company CEOs
Fintech inspections require a different approach from traditional financial services. Experts who understand both IT and financial regulations are necessary.
We have an accurate understanding of the characteristics of the PG industry. We identify vulnerabilities in advance from the inspector's perspective and prepare response measures.
Contact us today.
[Case Study] FSS Response Advisory for Payment Gateway Company K
The overwhelming moment of receiving an electronic payment processing business inspection notice
Payment gateway Company K received an FSS inspection notice. The person in charge was bewildered. This is a completely different domain from bank inspections.
The entire process from payment data generation to settlement is subject to inspection. Merchant settlement processes, management of unsettled funds, and deposit operations all must be reviewed.
Why PG company inspections are special
PG companies operate in a domain where finance and IT are combined. The regulatory perspective differs from traditional financial services.
Compliance with PCI-DSS security certification is verified. Card information encryption systems are examined for adequacy. Information leak prevention systems are reviewed for proper operation.
Above all, delays in merchant fund settlements or potential misappropriation are intensively examined. Whether user protection measures are substantially operational is also verified.
Former FSS attorneys provide direct advisory services
Our law firm has former FSS attorneys directly handle PG company inspection responses. We know exactly what inspectors focus on.
We understand the unique regulatory environment of the fintech industry. We have a clear grasp of the complex application relationships between the Electronic Financial Transactions Act and the Specialized Credit Financial Business Act.
Our fintech response process
Stage 1: IT and Information Security Status Assessment
We examine PCI-DSS certification status and card information processing systems. We verify personal information protection frameworks and security control status.
Stage 2: Electronic Financial Business Regulation Mapping
We examine compliance with obligations under the Electronic Financial Transactions Act. We verify adherence to user protection regulations.
Stage 3: Fund Management System Review
We review the adequacy of merchant settlement processes. We verify transparency in unsettled fund management and deposit operations.
Stage 4: User Protection Review
We examine dispute resolution procedures and compensation systems. We verify the adequacy of terms and conditions and compliance with disclosure obligations.
To PG company CEOs
Fintech inspections require a different approach from traditional financial services. Experts who understand both IT and financial regulations are necessary.
We have an accurate understanding of the characteristics of the PG industry. We identify vulnerabilities in advance from the inspector's perspective and prepare response measures.
Contact us today.