{"id":4412,"date":"2023-11-30T08:14:07","date_gmt":"2023-11-30T08:14:07","guid":{"rendered":"https:\/\/razorpay.com\/newsroom\/?p=4412"},"modified":"2023-11-30T08:14:16","modified_gmt":"2023-11-30T08:14:16","slug":"razorpay-becomes-the-first-indian-fintech-to-receive-the-coveted-data-security-and-compliance-certification-system-and-organisation-control-3","status":"publish","type":"post","link":"https:\/\/razorpay.com\/newsroom\/razorpay-becomes-the-first-indian-fintech-to-receive-the-coveted-data-security-and-compliance-certification-system-and-organisation-control-3\/","title":{"rendered":"Razorpay Becomes the First Indian FinTech to Receive the Coveted Data Security and Compliance Certification, \u2018System and Organisation Control 3\u2019"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">This certification substantiates Razorpay\u2019s continuous efforts and dedication to maintaining efficient standards in data security, privacy, and compliance<\/span><\/i><\/li>\n<\/ul>\n<p><b>Bengaluru, 30 November 2023<\/b><span style=\"font-weight: 400;\">: <\/span><a href=\"https:\/\/razorpay.com\/\"><b>Razorpay,<\/b><\/a><span style=\"font-weight: 400;\"> India&#8217;s Leading Omnichannel Payments and Banking Platform for Businesses has announced that it has <\/span><b>received one of the most sought-after data security and compliance <\/b><b>recognitions<\/b><b> &#8211; \u2018System and Organisation Control 3 (SOC 3) Certification\u2019<\/b><span style=\"font-weight: 400;\">. SOC 3 Compliance applies to any organization that stores sensitive customer data while processing online transactions, such as financial information, health records, or personally identifiable information. <\/span><b>SOC 3 is a globally recognized and respected standard<\/b><span style=\"font-weight: 400;\"> for managing and safeguarding sensitive customer data. <\/span><b>Razorpay is the first fintech company in India to have achieved this compliance milestone.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the fast-paced world of fintech, SOC 3 certification emerges as a beacon of trust and credibility as it signifies a commitment to safeguarding sensitive financial data. <\/span><b>In a country where the fintech adoption rate stands at 87% as against the global average of 64%, achieving the SOC 3 certification becomes a narrative of resilience, assurance, and market prominence in the dynamic fintech landscape.<\/b><span style=\"font-weight: 400;\"> In the era of heightened cyber threats, this certification serves as a shield, managing risks and meeting customer expectations of robust data protection.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Committed to upholding the highest standards of compliance, data security, and privacy, <\/span><b>Hilal Lone, Chief Information Security Officer, Razorpay<\/b><span style=\"font-weight: 400;\"> said <\/span><i><span style=\"font-weight: 400;\">\u201cWe are thrilled to have received the SOC 3 certification, a significant milestone that reflects our ongoing commitment to providing secure and reliable solutions to our customers. Our teams are relentlessly working round the clock to ensure that our platform is secured with the highest standards of security in order to safeguard our customers. <\/span><\/i><b><i>Compliance, privacy, and data security are the cornerstones of our forward-thinking ethos,<\/i><\/b> <b><i>thus calling for constant upgrades of our certifications and standardisations around privacy and data security<\/i><\/b><i><span style=\"font-weight: 400;\">.\u201d\u00a0\u00a0<\/span><\/i><\/p>\n<p><b>The certification signifies that Razorpay has undergone a rigorous evaluation of its controls related to data security, be it maintaining the integrity of data processing, or upholding the confidentiality of sensitive information, and protecting the privacy of customer data, to successfully meet the robust security standards set by the SOC 3 framework<\/b><span style=\"font-weight: 400;\">. For Razorpay, customer confidence is paramount and the SOC 3 certification is one of the ways by which it assures its customers that their financial information is handled with the utmost care and never misused.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With its razor-sharp focus on building the financial backbone for Indian businesses, Razorpay\u2019s offerings are aimed at <\/span><b>ensuring the safety of merchants and end-consumers, both offline and online<\/b><span style=\"font-weight: 400;\">. Today, Razorpay serves more than 10 Million businesses in India, which are safeguarded by top-notch security and compliance standards that are recognized globally.<\/span> <span style=\"font-weight: 400;\">Looking ahead, Razorpay will continue its dedication to excellence in the regulatory and compliance domain by prioritizing investments and fostering innovations in these areas.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This certification substantiates Razorpay\u2019s continuous efforts and dedication to maintaining efficient standards in data security, privacy, and compliance Bengaluru, 30 November 2023: Razorpay, India&#8217;s Leading Omnichannel Payments and Banking Platform for Businesses has announced that it has received one of the most sought-after data security and compliance recognitions &#8211; \u2018System and Organisation Control 3 (SOC<\/p>\n","protected":false},"author":14,"featured_media":4413,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[27],"tags":[33,130,129,128],"class_list":{"0":"post-4412","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-corporate","8":"tag-razorpay","9":"tag-razorpay-compliance-certification","10":"tag-razorpay-data-security","11":"tag-razorpay-soc3-certification"},"modified_by":"Anu Saraswat","_links":{"self":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/comments?post=4412"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4412\/revisions"}],"predecessor-version":[{"id":4414,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4412\/revisions\/4414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media\/4413"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media?parent=4412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/categories?post=4412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/tags?post=4412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}