I am in charge of international privacy matters at Ant Financial, which operates Alipay, the world’s largest mobile payment platform.
We are usually asked to advise on data protection issues for product offerings intended for use in multiple jurisdictions and/or cross-border settings, which can be very challenging; the most appropriate solutions are not usually obvious. It does take some thinking to come up with a course of action that will comply with applicable laws and satisfy business needs.
Much of our work in the international privacy team relates to finding ways to comply with privacy laws and regulations in multiple jurisdictions. But as we focus on matters that involve the laws of many different jurisdictions, we cannot just advise on what laws will be applicable, but also how these laws should be applied as well as to forestall potential problems before they escalate into major issues.
Data-rich businesses face multiple challenges that need to be addressed from many different perspectives, including data security, privacy protection, protection of intellectual property (in particular, trade secrets), among others. As a fintech company, we must also be attentive to compliance with the many regulations specific to the provision of financial services in many jurisdictions.