Encryption & Tokenization
Experts agree a layered approach can be the most effective way to combat fraud, which is why we offer a range of easy to implement tools to keep your transactions secure and your business running smoothly.
The EMV transition is sweeping the country, and for good reason. These newly issued payment cards, which are embedded with a microchip, provide a more robust level of security than traditional magnetic stripe cards. Find out how Elavon's global experience and history with EMV rollouts can get your business ready to accept EMV payments.
Are you doing all you can to protect your bottom line and reputation? We recognize that tackling data security can seem overwhelming for a small business, so we’ve built Elavon’s PCI Compliance Manager, a user friendly on-line tool that helps you report and maintain compliance. Find out how this tool can help your business minimize payment security risks.
Encryption and Tokenization enable your business to streamline the process of compliance while reducing expenses associated with the security effort. These solutions effectively remove cardholder data from your environment. Find out how these enterprise grade solutions keep your card data safe in use, in transit, or at rest.
According to a recent study by Aite Group, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled by the end of next year. By accepting chip cards you help protect your business from card present fraud liability and prepare your business for the future of payment application technology. How do you process an EMV chip card transaction? Review the steps below for more information.
What are the benefits of having an EMV terminal in my business?
What is EMV?
Are there different EMV CHIPs?
EMV is an abbreviation for Europay, MasterCard, and Visa and was originated in 1994. EMV is a global standard for credit and debit payment cards based on chip card technology. The “chip” stores encryption data that is used during the transaction to prove the card is authentic and prevent cloning of the card. EMV chips are read and write capable.
There are two types of “chips”; contact (EMV) and contactless (NFC). EMV cards will be inserted into the credit card terminal for processing. They look like a standard credit card today but have a chip on the card.
Contactless payments will use Near Field Communication (NFC) to process transactions. NFC uses radio-based technology to process transactions. . NFC “cards” will come in a variety of form factors; traditional cards, Apple Pay, mobile phones, stickers, and key fobs.
When do I have to UPDATE hardware?
The Card Brands have announced EMV incentives (carrots and sticks) that encourage card issuers, and merchants to adopt EMV. October 2015 is the date of which all merchants should be concerned.
The cost of a single data breach to a small business averages $100,000*. Are you doing all you can to protect your bottom line and reputation? Elavon's PCI Compliance Manager is a user friendly on-line tool that helps you quickly and easily report and maintain compliance.
What are the benefits to your business when using our
PCI Compliance Manager to streamline the
PCI certification process?
*Source: Ponemon Institute 2014 Cost of a Data Breach study
PCI Help Desk866-659-9067 Elavon PCI Portal
Encryption is the strongest protection for card data when it’s in transit. From the moment a payment card is swiped or inserted (dipped) at a terminal featuring a hardware-based, tamper resistant security module, encryption protects the card data from fraudsters as it travels across various systems and networks until it is decrypted at Elavon’s secure data center. Encryption is ideally suited for any businesses that processes card transactions in a face to face or card present environment. Elavon’s encryption solution features format-preserving encryption, which retains the original length and structure of card track data, minimizing or eliminating adverse impact to your POS systems or message formats.
Tokenization protects card data when it’s in use and at rest. It converts or replaces cardholder data with a unique token ID to be used for subsequent transactions. This eliminates the possibility of having card data stolen because it no longer exists within your environment. Tokens can be used in card not present environments such as e-commerce or mail order/telephone order (MOTO), or in conjunction with encryption in card present environments. Tokens can reside on your POS/PMS or within your e-commerce infrastructure (at rest) and can be used to make adjustments, add new charges, make reservations, perform recurring transactions, or perform other transactions (in use).
Elavon’s safe-T security solutions provide layers of protection, when used in combination with EMV and PCI-DSS compliance; to ensure you’re doing all you can to protect cardholder data from increasingly complex and evolving security threats. Additionally, an appropriately implemented encryption and tokenization solution can help reduce the complexity of complying with the PCI-DSS standards and decrease the costs of your PCI-DSS audits, freeing up resources to focus on initiatives that will drive your business forward.
Interested in knowing more about encryption and tokenization? Download our free security whitepaper.
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Rocky Mountain BankCard is a Registered MSP/ISO for Elavon, Inc. of Atlanta, GA.