What short and long term effects will the process have on the business?
A spokesman for the Irish Data Protection Commission noted that Mr Schrems's complaints were made to other European Union data protection authorities earlier on Friday and that they would be forwarded to the Irish regulator should they come under the GDPR's "one-stop shop mechanism" that brings matters relating to Facebook and Google to the Irish authority given that their European Union headquarters are based in Dublin.
"It goes into the effect in the European Union but it also affects European Union residents who are over here, companies that have European Union subsidiaries, and the large tech companies are going to want to have similar data compliance in the USA and in Europe".
"The problem for banks and payment service providers is that if we are non-compliant with GDPR, which could be triggered by compliance with PSD2, we have to potentially pay up to 4 percent of global turnover as a fine", said Wandhoefer.
That's the hope of a lot of privacy advocates.
As the world becomes more digitalized and the use of internet, social media and online transactions mount, websites are increasingly using information about users' online activity - what they buy, what they eat and where they travel.
"There is no doubt for us that the GDPR is a game-changer, and that it will require companies to change their mindset and put the privacy of their users first", said David Martin Ruiz, senior legal officer for the European Consumer Organisation, an umbrella group of consumer watchdogs. The recent Cambridge Analytica scandal brought into sharp focus how things can go wrong when our data is misused. Microsoft customers can view, delete, and move their personal data here.
Which Companies Will It Impact?"The early signs are not auspicious".
Susanne Dehmel, head of Legal & Security at Bitkom, Germany's digital association, said firms were concerned because they were not sure how to enforce the new regulations. Just one in 10 companies were considering the user experience as they worked to comply with GDPR rules, according to the survey.
What Does GDPR Mean? When Does It Start? New Privacy Laws Explained
They can begin to protect themselves by having a process in place for dealing with GDPR issues, as soon as possible, Brown said.
However, the activist noted that the aim wasn't to stop companies processing any data - "anything strictly necessary for a service does not need consent boxes". The changes will affect all users of Google's services.
So, are Israeli companies GDPR-ready?
The most visible effect of GDPR so far, for most people, may be the blizzard of emails from companies seeking permission to continue sending marketing messages.
"You have to have a "yes or no" option", Schrems said in an interview recorded in Vienna before he filed the complaints in various European jurisdictions. Acquisti said that wasn't a good sign. The reality of GDPR won't take shape until regulators begin cracking down on violators because there's very little precedent for this kind of law.
Apple has said that it will offer the same protections to users in other countries, but hasn't yet specified a deadline for this.More news: Schumer: Trump was ‘played’ by Chinese president