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Identity and Access Management

Identity and Access Management (IAM) in the payment processing industry is a security framework that controls and verifies user access to payment systems. IAM ensures that only authorized individuals can process transactions, access sensitive financial data, and manage payment operations. It includes authentication methods like multi-factor authentication (MFA), role-based access control (RBAC), and encryption to prevent unauthorized access and reduce fraud risks.

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Related Terms & Synonyms:

  • User Authentication – The process of verifying a user’s identity before granting access.
  • Access Control – Restricting system access based on user roles and permissions.
  • Multi-Factor Authentication (MFA) – Adding extra security layers beyond passwords.
  • Role-Based Access Control (RBAC) – Assigning permissions based on job responsibilities.
  • Secure Payment Access – Protecting financial transactions through strict identity verification.
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