HONG KONG, Sept. 9, 2016 /PRNewswire/ -- Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, announced today that it has obtained TRUSTe Enterprise Privacy Seals in both English and Simplified Chinese for the Geoswift website and PayTuitionNow portal. The TRUSTe certification provides Geoswift's online platforms with a gold-class accreditation for data privacy standards and processes.
The onset of technology in recent times has propelled key advancements, paving the way for accessible payment transactions globally. However, this has raised concerns in instances of personal data intrusion. The TRUSTe certification demonstrates Geoswift's continued commitment to ensure customers' privacy and data are protected and benchmarked against industry's standards. As part of its existing compliance framework, Geoswift conducts stringent know-your-customer (KYC) on-boarding practices and anti-money laundering (AML) checks to ensure high standards in regulatory compliance.
"As a leading provider of cross-border payment solutions, we are committed in ensuring we raise the bar by providing our clients and partners with a gold standard when it comes to online data security and privacy. With expected higher levels of trade and growth of China's B2B commerce, we want to be known as a market leader in ensuring high compliance standards to facilitate this growth. Data protection is an issue we take seriously and our TRUSTe certification proves just that," said Raymond Qu, Geoswift's CEO and founder.
TRUSTe, the leading data privacy management company with close to 20 years of industry's expertise, rigorously audits a company's user privacy standards and regulations before it can qualify for the TRUSTe Enterprise Privacy Seal. TRUSTe's Privacy Certification Standards are based on a compilation of requirements and best practices defined by key regulatory bodies, industry groups and recognised frameworks such as the APEC Cross-Border Privacy Rules (CBPR) framework. Please click here to view TRUSTe's Certification Standards.
"TRUSTe Privacy Certification provides cutting-edge consumer protections and establish leading privacy standards. Our Certification Standards are the requirements against which we evaluate and certify a company's privacy practices and these requirements embody our mission to promote transparency, accountability and choice in the collection and use of personal information. By displaying our privacy seal, Geoswift is demonstrating compliance with our Certification Standards and their commitment to privacy protection, instilling confidence and trust in users of their products and services," said Chris Babel, TRUSTe CEO.
The need to safe-guard consumers' data becomes critical with the increasing complexity of the technological web and as evident in the frequency of security breaches around the world. Together with TRUSTe, Geoswift a leading provider of cross-border payment solutions between China and the rest of the world, aims to select processes that deliver both efficient and ethical solutions for customers globally.
About Geoswift
Geoswift is an innovative payment technology company connecting China and the rest of the world. The company comprises the world's leading payment technology experts that have a deep understanding of the industry, technology, and global and China monetary policy. Geoswift provides clients with customised one-stop cross-border payment solutions to and from China. Geoswift is relied upon by the world's leading e-commerce companies, most prestigious universities and the largest brands in the travel industry to grow their businesses.
Geoswift is an acquirer of UnionPay International in North America, a co-issuer of MasterCard prepaid cards, and a long-term partner of many other leading financial institutions. It also maintains 21 currency exchange outlets throughout China. Geoswift is headquartered in Hong Kong with operating offices in Shanghai, London, Vancouver, Seattle and San Francisco for strategic and regulatory functions. For more information, visit: www.geoswift.com
