When a large data breach happens—such as what happened with Target—hysteria begins to spread as people feel their payment information could end up in the wrong hands. The United States is catching up with the rest of the world by finally beginning the implementation of EMV (credit cards with the computer chips). Although EMV is a significantly large step towards safer payments, it’s not the end-all solution.
This is why Point to Point Encryption is so important.
What is Point to Point Encryption?
Point-to-point encryption (P2PE) is a payment processing security solution that protects your card’s confidential credit card data. P2PE takes your data and converts it into an indecipherable code at the swipe preventing against hacking or fraud.
Why is Point to Point Encryption needed?
They (the hackers) cannot steal what they do not have. Protecting sensitive data from the start is what makes P2PE so important. EMV credit cards and NFC payments help to protect against fraud in a physical setting but that is not where the hackers—responsible for giant data breaches—are stealing your information.
P2PE protects your data at the point of capture such as at an ATM machine, retail store, restaurant, or web site. The data is decrypted only when it is needed by the specific business receiving the data, otherwise the data exists only in its protected state.
Why does your Business need Point-to-Point Encryption?
Peace of mind for your customers. Doesn’t matter what type of business you have, letting your customers know that their payments are safe using P2PE means they will feel comfortable and continue to shop with you.
Keeping your valuable credit card information secure is an increasingly complex regulatory environment and proves to be a critical challenge for merchants. If you would like to talk about how to get point-to-point encryption set up with your business, email us today to speak with a specialist.
