Sometimes called the “fourth branch of government” in the United States, regulation has come a long way since court rulings and early agencies. Today, regulations exist for everything from medications to business acquisitions. Keeping up with regulations can be daunting, whether you’re just getting started in the business world or an experienced CEO.
Here’s the good news: You don’t need to spend hours perusing legal documents to stay compliant. Companies like Stronghold exist to take the regulatory burden off your shoulders. In the financial world, a solid payment provider will bridge the gap between regulation and your work. We’ll explore this in action below.
Why Regulate Payments?
Regulating payments supports a safe and secure economy. Governments prevent fraud and financial scams by ensuring companies and individuals make payments according to established standards. This is why users must share personal details when checking out or using an app like Venmo. Regulating payment transactions helps protect consumers from erroneous or unfair charges, boosting consumer confidence.
On a broader level, regulation ensures that funds are properly tracked and accounted for across businesses and borders. Government actors carefully monitor payments to identify potential criminal activity. Regulatory standards protect confidential financial data from malicious hackers and allow merchants to authenticate each transaction.
Regulations are relevant for businesses. Here’s how Stronghold makes compliance a breeze.
Make Regulation Simple with Stronghold
Stronghold builds payment options with compliance in mind. From credit card processing to invoicing, we integrate secure and compliant processing. Payments flow from your customers’ accounts to your business accounts. We maintain the industry’s most demanding certifications, including SOC Type II and the Nacha ACH audit, to support your work.
In addition, Stronghold's SDK solution represents the gold standard for data protection. It keeps customer payment data from touching your servers or devices, slashing the risk of data breaches and theft. This added layer of security benefits you and your customers by protecting their most sensitive information.
We understand how crucial it is for businesses in high-compliance sectors to stay updated. That's why at Stronghold, we keep our payment solutions in tune with the latest regulations, so you can focus on growing your business. Ready to make things easier? Get in touch with us today.
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