Reduce, Protect, Preserve: Point-to-Point Encryption
Element Payment Services, the industry leader in PCI complaint payment processing, and ThoughtKey, the leading PCI-focused consulting firm, have teamed up to offer a new white paper entitled "Point-to-Point Encryption (P2PE): Reduce PCI Scope, Protect Cardholder Data and Preserve Profit". The document is aimed at helping merchants understand and address the hurdles of achieving and maintaining PCI compliance. Authored by ThoughtKey, this white paper details the benefits and pitfalls of relying solely on payment network segmentation as opposed to the robust option of P2PE plus tokenization in a highly secured host environment.
The issues present today are a result of merchants pulling double duty attempting to protect cardholder data while also defending their environments from cyber threats. Despite best efforts, a study done by The Ponemon Institute this year - in which 581 US Technology Security professionals were surveyed - reports that 90% of businesses fell victim to cyber security breaches at least once in the past 12 months; 41% of these incidents cost businesses $500,000+ to handle!
The "P2PE: Reduce PCI Scope, Protect Cardholder Data and Preserve Profit" white paper provides a simple and effective answer to these problems. The document details how Element TransForm™ P2PE suite effectively removes sensitive cardholder data from a merchant’s environment, thereby eliminating the target on the merchant’s proverbial back. The Element TransForm™ P2PE suite secures payments simply by ensuring that cardholder data is protected through P2PE from the initial point of entry and while in transit to the payment processor.
“We are excited to share this white paper with the payment processing industry and merchant community, as it offers great detail to a complete and secure solution,” said Sean Kramer, president and CEO of Element Payment Services. “At Element, we make it our number one priority to help customers protect their businesses while providing the innovative payments technologies needed to manage operations. Our comprehensive PCI compliant solutions make this possible.”