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Does Your eCommerce Merchant Account Have the "Security Trifecta"? It's 2016--It Should.

Ray Moorman

If you’re running a business and accepting credit card payments online, it’s critical that your eCommerce merchant account have the security trifecta of EMVtokenization and E2E encryption in place. In combination, these tactics help provide your systems with comprehensive card data protection--for you and your customers.

EMV—which stands for Europay, MasterCard and Visa—cards are the latest wave of innovation in card security. EMV chip cards have been in use in Europe and throughout the world for many years, and the U.S. has just converted to this technology last fall. The tiny chip in the card is what adds the extra layer of security to these cards. During an EMV transaction, the customer inserts the card into your EMV-enabled terminal and a unique transaction code is created—a code that can only be used once and for only that transaction. Instead of the older magnetic stripe cards that contain static data about the card account and cardholder, the EMV chip generates completely unique information that cannot be easily heisted or replicated by fraudsters.

Tokenization is another great way to protect your systems, particularly in the event of data theft. With this technology, credit card data is completely removed from your system and is replaced by a unique “token.” As a merchant, you’ll use this token in the future to easily retrieve needed customer data in the form of a token that is totally useless to fraudsters since it is a not a real credit card number. The token is a completely random sequence and, therefore, fraudsters cannot even attempt to “crack” the code, since there isn’t one to crack.

E2E Encryption
End-to-end (E2E) encryption—also known as point-to-point encryption (P2PE)—renders sensitive data unreadable to fraudsters from the moment the card is swiped or inserted into your terminal to when the bank receives the data. If hackers do intercept the E2E-protected data, it will be useless. This is accomplished because the data is encrypted using a cryptographic key that only the end points (for example, you and your bank) know.

New year, new security tactics
In the interest of your business’s future growth and reputation, make sure you have additional layers of security in place in 2016. Having EMV-equipped point-of-sale terminals helps protect your customers’ sensitive data while in transit. EMV transactions are more secure than traditional magnetic swipe card transactions because there is unique data generated for each transaction, not the same set of data stored on the magnetic stripe for months or years that the customer has that card. Tokenization protects sensitive cardholder data by replacing actual card numbers with a unique token that fraudsters cannot hack or crack. Your customers’ sensitive data is then stored in a highly secure, offsite repository that you can easily retrieve for future use, such as for returns or voids. With E2E encryption, your sensitive data is rendered useless to hackers as it’s in transit from your systems to the bank, or at any points in between.

Make sure you have these security measures in place today to protect your business, your reputation and your customers.

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