Video: What Are The Benefits Of Adding P2PE And Tokenization To EMV?
In this segment of BSMtv, Chester Ritchie, senior VP of strategic partnerships for Worldpay, explains the benefits of combining EMV with point-to-point encryption and tokenization. He says EMV, which uses chip cards that create a unique code for each transaction, protect against card fraud only. Point-to-point encryption (P2PE) protects card data —from a chip or mag stripe card — by encrypting it rather than transmitting it “in the clear.” Tokenization replaces card data with a token that can be more securely stored by a merchant that keeps data for future use.
Ritchie cautioned attendees at the Retail IT VAR Of The Future conference, May 12-13, Bally’s, Las Vegas, that as EMV is locked down for physical retail, fraud will shift from card-present transactions to ecommerce transactions and payments in verticals such as healthcare. “You want to make sure you have solutions to protect those customers,” Ritchie says.
Retail IT VAR Of The Future, powered by Business Solutions, was held May 12-13, 2015, at Bally’s, Las Vegas. Platinum Sponsors: BlueStar, Mercury, ScanSource, Worldpay. Gold Sponsor: Moneris. Silver Sponsors: AML, Axis, Check Point, Code, Creditcall, CRS, Intuit, RPOWER. Industry Association Sponsor: RSPA.
For more from the Retail IT VAR Of The Future Conference, also see:
Video: Competitive Retail IT VARs Keep An Open Mind About New Technologies
Video: mPOS, Cloud Help Retail IT VARs Overcome Objections To As-A-Service
Video: Why Bundling Additional Solutions With Payment Processing Makes Sense
Video: What Retail IT VARs Need To Consider To Make The Transition To The Recurring Revenue Model
Video: How RSPA Is Helping VARs With The Transition To EMV
Video: How Retail IT VARs Can Stay Competitive
Video: Take An Active Approach To Selling Payment Processing
Video: As-A-Service Requires A Different Approach To Providing Retail IT