Definition:
Global compliance refers to the practice of ensuring that business operations align with laws and regulations across multiple countries and jurisdictions.

Contextual Explanation:
For payment service providers operating internationally, compliance with regulations such as the General Data Protection Regulation (GDPR) in the EU and the Bank Secrecy Act (BSA) in the U.S. is critical to avoiding legal and financial repercussions.

Why It Matters:
Failure to meet global compliance requirements can result in heavy fines, reputational damage, and restricted market access. Companies must continuously monitor regulatory changes to stay compliant.