This week, Akamai Technologies released new cloud technology it expects to have a big impact on both credit card users and merchants. Instead of storing personal information in local data centers, Akamai will give vendors the opportunity to encrypt credit card numbers in its cloud.
The security service is titled Edge Tokenization, according to Network World, a technology news site. Akamai’s goal is to direct crucial information away from networks easily accessible to data thieves.
“This is a game changer for the entire industry,” Akamai CSO Andy Ellis told the website. “This lets customers still take credit cards without having to use something like PayPal. You never see the credit card. We use tokenization, and you are not a card holder data environment anymore.”
Ellis also expects the cloud to reduce Payment Card Industry Data Security Standard compliance costs. Edge Tokenization will lower the amount of money vendors have to spend to protect consumer data.
When personal data falls into the wrong hands, it may result in debt and extensive credit score damage for the consumer. Cardholders are encouraged to monitor their credit closely to detect any suspicious transactions.