Payments technology changes rapidly, and cybercriminal techniques are having no trouble keeping pace. As the use of stolen data and fraudulent cards become more difficult, criminals are shifting their focus and innovating to access customer payment transaction data. The risk of data theft is very real. To stay ahead, merchants and institutions need tools that are specifically designed to address evolving challenges. There is a need for a new set of security standards that can work in parallel without hindering development. The payment card industry has defined standards for protecting cardholder account data, but what about other data types? And what lessons can be learned from the data security practices that the payment card industry has introduced over the years?
The session reviews:
- Innovations in security and compliance standards in securing payments transactions;
- Data-centric strategies for payment data protection in applications;
- How end-to-end encryption and tokenization can mitigate data breach risks.