Data Protection at its Finest: ePayLater's Security Measures

ePayLater is the leading provider of BNPL solutions for merchants in India, committed to the highest levels of security and privacy for our customers.

As more and more transactions are conducted online, data security has become a crucial concern for businesses and individuals alike. We take the protection of personal and financial data very seriously. At ePayLater, we understand the importance of safeguarding our customers' sensitive information and have taken numerous steps to secure our systems and protect them against potential threats.

We have implemented advanced encryption technologies, firewalls, Data loss protection systems, the latest anti-virus, and other security measures to ensure that our user’s data is always safe and secure. 

Our team of security experts led by Mr. Sodhi (Chief Information & Data Security officer at ePayLater) is constantly monitoring our systems and updating our security protocols to keep pace with the latest threats. Data security is an ongoing process that requires careful planning and attention to detail throughout the product development process – from the staging to the production environment. Under the wings of Mr. Sodhi, ePayLater is doing just that. 

Some of these measures include:

ISO/IEC 27001:2013 Certification – The world's best-known standard for Information Security Management Systems lays out the practices for organizations to manage their data. By achieving compliance with ISO/IEC 27001:2013, an organization demonstrates that it has taken steps to protect its information assets and has a robust and effective ISMS.

 To achieve certification, we arranged an audit by a third-party organization to ensure that we meet all of the requirements outlined in the standard. This was a bit of a process, but ePayLater always goes the extra mile to ensure the welfare of the members on board.

Bit-lock Encryption - ePayLater deals with a lot of sensitive financial data, and it's super important that this data is kept secure, especially in the digital world where data breaches and hacks are unfortunately common.

More complex problems need more innovative solutions, and we have implemented just that - by using bit-locker encryption.

Bit-locker is a type of encryption that turns all of your data into a bunch of scrambled code that can only be accessed with a special key. So even if someone somehow got their hands on your data, they would need the key to be able to read or use it. It's like a lock and key for your data can be accessed only through approval processes.

Centralized Control –

With centralized control, there is only one point of access to the data, which makes it much easier to monitor and protect it from unauthorized access or breaches. Centralized control allows for better data management and organization. With all the data in one central location, it is easier to keep track of it and ensure it is accurate and up to date. This is especially useful in financial transactions, where even small errors can have significant consequences.

Auto Provision of Data –

Utilizing the data classification and hierarchy-based system, we have created a process in which data is automatically provided to users based on their level of importance within an organizational hierarchy. Users get access to data based on their classification level, with those at the highest levels having access to the most sensitive data. For example, a CEO might have full access to all data, while a ground-level employee might only have access to certain data based on their role and responsibilities.

Two-Factor Authentication- 

ePayLater requires customers to verify their identity through a two-factor authentication process, which involves entering a one-time password (OTP) sent to their registered mobile number. This helps to prevent unauthorized access to account information. The authentication step ensures that only authorized persons can access the data they are allowed to. Any transgression is ticked off as and when it is done.

Security Incident and Event Management (SIEM)-

Ensuring super tight security and leaving no space for breachers to get away with our customer's data, we have also implemented SIEM for more effective security. SIEM constantly monitors the systems and networks for any unusual activity or potential security breaches. When it detects something suspicious, it sends an alert to the security team, who can then investigate and take appropriate action to prevent a full-blown security incident.

In addition to real-time monitoring, SIEM also keeps a record of all security events so that the security experts at ePayLater can go back and analyze them later to understand what happened and how to prevent similar incidents from occurring in the future.

At ePayLater, we are committed to protecting our customers' data and maintaining their trust. We believe that data security is of the utmost importance and will continue to invest in the latest technologies and practices to ensure the safety and privacy of our users.