Hackers target businesses that process and store cardholder data because it is both valuable and portable. PCI compliance alone does not guarantee security. To successfully combat evolving security threats, companies must adapt, update and modernize their security strategy by implementing advanced encryption and tokenization solutions that:
• Remove actual card data from the payments stream • Protect card data at every point in the transaction lifecycle: in use, in transit, at rest • Ensure the continuity of existing business processes that require the use of card data • Mitigate the costs and complexities of PCI compliance
EMV Prevents Counterfeit Card Use
EMV terminals read advanced algorithms contained on Chip cards to authenticate that the card is not a counterfeit. The data is not encrypted or secured for processing the transactions.
A Worthwhile Investment for Peace of Mind
These are exciting times. EMV will act as a catalyst for point-of-sale upgrades throughout the payment ecosystem. This is one of a handful of transformative initiatives to impact the payment industry in the past thirty years: first was the transition from paper to electronic processing in the 80’s, following by the adoption of PIN debit in the 90’s, and most recently the e-commerce wave that gained momentum in the early ‘00’s. Businesses are encouraged to capitalize on that investment by implementing EMV terminals that support point-to-point encryption and descope the POS. The reduction in PCI compliance costs will quickly result in a positive return on investment. And the combination of EMV, P2PE and Tokenization will extend peace of mind to financial, security and operational executives, allowing them to focus on initiatives that drive their business forward, knowing that card data cannot be compromised.
