Update Newsletter: Spring 2010

Achieving Sustainable Improvements in the Security of Retail Payments: Technologies, Standard-Setting, and Coordination

On February 16-17, 2010, the Payment Cards Center hosted a conference titled “Achieving Sustainable Improvements in the Security of Retail Payments: Technologies, Standard- Setting, and Coordination.” This conference brought together technologists, banking and payment industry professionals, merchants, and policymakers to discuss the complex economic and technological issues encountered when considering a robust data security standard. The conference also discussed what these technologies can and cannot do when it comes to protecting consumers’ payment information and offered suggestions on how the invited groups might collaborate on data security issues.

An excerpt from the conference agenda is provided below:

In recent years, data breaches at merchants and payment processors have raised concerns about the protection of personal information in the banking and payment industries. The private sector has responded with several attempts to develop ways to better secure these systems, including standard-setting initiatives such as PCI-DSS.

Some stakeholders support specific technology solutions to address specific risks to data security when data are at rest and when data are in transit. In particular, three technology solutions — end-to-end encryption, tokenization, and chip or smart card technology — are frequently suggested.

The full agenda with details about each of the four conference sessions is available.

A conference summary is forthcoming.

Peter Burns, Heartland Payment Systems; Mike Herman, Chase Paymentech; Eduardo Perez, Visa Inc.; Bob Carr, Heartland Payment Systems; John Latimer, TSYS.

Update Newsletter: Spring 2010

Achieving Sustainable Improvements in the Security of Retail Payments: Technologies, Standard-Setting, and Coordination

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