In 2018, educational institutions were embroiled with GDPR and 2019 was all about PSD2. What do these terms mean and what measures can you take?
What is GDPR?
In May 2018, new European data privacy legislation was introduced, also known as General Data Protection Regulation (GDPR). Like all other organisations, educational institutions were now obliged to protect the data of their students, employees or customers. This data must be treated confidentially. According to GDPR, the definition of personal data is any information related to an individual, such as names, photos, e-mail addresses, bank details, IP adresses and social network messages. Bearing in mind that some educational institutions have more than 20,000 students, it is not surprising that educational institutions also find it difficult to comply with GDPR.
What does PSD2 mean for us?
The PSD2 stands for the second Payment Services Directive and relates to European payment services. This directive stipulates that in addition to banks, other parties can also offer new payment and account services, such as a service that helps to keep track of individual bank accounts. PSD2 also regulates that only licensed payment institutions may provide financial services. Obtaining such a licence creates a great deal of red tape, which is something one prefers to avoid. A dilemma, therefore. As an educational institution, you want to serve your students and let them make purchases, but with all these new rules this is quite a hassle.
PSD2 and the GDPR: hassle for facility managers
Imagine that you are the facility manager of an educational institution and determined to offer greater ease of payment to students. After all, your students purchase goods or services through all kinds of self-service devices, including vending machines, Multi Function Printers and coffee machines. But you also want to comply with all GDPR and PSD2 guidelines.
Where do you start? Do you apply for a payment licence or do you opt for outsourcing?
Many educational institutions are currently in violation, because they manage the money themselves and are therefore responsible for all transactions. In other words, if data is leaked or money is stolen (cybercrime), the educational institutions themselves are responsible.
Hassle-free micropayments and cloud solutions
It is precisely for these complex situations that KUARIO offers the best solution for your educational institution. KUARIO offers simple and safe micro-payments for students so that they can easily print, copy and pay for coffee or food via a mobile app and a QR code. KUARIO also relieves the educational institution of all GDPR and PSD2 obligations.
KUARIO takes care of the registration of users and their data, which are then no longer stored locally at the educational institution. With this, you can already take an important step with regard to the protection of your students' data.
KUARIO also offers GDPR-proof cloud printing, which stores students' data in the cloud instead of locally on servers. Our printing solution works with double encryption. The data is sent as a package and unpacked locally on the printer. The data is not stored on the printers or printer server before it is printed. And because KUARIO is an officially licensed payment service agent, the money is managed in a fully regulated way, in accordance with the new PSD2 guidelines.
inepro is official distributor of the KUARIO management- and payment platform.