Multilayered Approach Can Help Your Merchant IT Clients Reduce Chances Of A Data Breach
Last year, Verifone Systems and Vantiv won the The Banker Technology Project of the Year 2014 award in the risk management category for their multilayered approach to cardholder data security including end-to-end encryption.
Joe Majka, CSO for VeriFone, explains the benefits of this approach and how it can help your merchant clients protect their businesses and their reputations.
BSM: Can you explain to IT solutions providers why a multilayered approach to security is beneficial — especially at the points of encryption and decryption?
Majka: We’ve observed that many merchants are viewing EMV as a security “catch all.” EMV has proven to be successful at reducing counterfeit credit cards at the point of sale (POS); however, if card data is vulnerable at any point during the rest of the payment journey, thieves are still able to leverage it for mobile and online payment fraud. While EMV plays an important role, it must be coupled with end-to-end encryption and tokenization solutions to be truly effective.
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