Technological advances have led to an increase in credit card purchases, however this has also led to an increase in credit card hacks. To help protect consumers, credit card companies are switching over to EMV cards. EMV, which stands for Europay, MasterCard, and Visa, features a “Chip and Pin” approach to protecting sensitive data that makes it harder to counterfeit.
Although EMV will be helpful to protect consumers from credit card fraud, the initial roll-out will only include a chip and signature process. Without the PIN protection retailers will still be vulnerable to attacks. To increase protection retailers need to implement P2PE into the line up of their EMV card readers. Point-to-point encryption or P2PE eliminates the ability for magnetic swipes to read and transmit credit card data as it encrypts the data instead.
With point-to-point-encryption (P2PE) the retailer, whether large or small, is protected at the highest level from breaches, as no readable card data is ever processed, stored or transmitted by the retail POS system. The machine instead transmits encrypted data represented by 200+ numbers and letters. The data is secure from vulnerabilities and breaches from the very moment the credit card is swiped.
Tokenization is a process that replaces the primary account number (PAN) with a token that has no exploitable data. By storing tokens instead of PANs merchants can help to reduce the amount of cardholder data in the environment. When secure tokenization is employed in conjunction with P2PE it can help to protect sensitive data over its full lifecycle.
Seamless card processing through Runit offers the latest security and convenience, as well as enabling you to provide your customer with the experience they have come to expect when shopping at a high quality establishment. What’s more, our processing partners will make sure you always have a back-up terminal, so you never have to worry about an interruption of internet service preventing you from charging a card and completing a sale.
