Credit security landscape changing
A new report suggests the minimum standards for securing payment methods and averting data breaches for debit and credit cards may be changing.
The Payment Card Industry Security Council recently released documents that offer guidelines on how merchants can handle card holder data.
The report sought to define the relationship between Europay, Mastercard and Visa encryption, and the payment industry standard, known as PCI DSS. An encryption system used outside the U.S., EMV features embedded smart chips which verify consumer data. PCI DSS, is the current American standard, Forbes reports.
The study stressed the benefits of merchants continuing to use EMV or PCI DSS, in a retail environment. The PCI council has yet to decide whether the U.S. should adopt EMV standards, according to Forbes.
The PCI report also discussed Point-to-Point encryption, the newest consumer protection system, attempting to define the fledgling operation method.
“This is the first time the council has commented on payment card encryption systems that, in theory, mask the cardholder data from the moment of the card swipe,” Bob Russo, general manager of the PCI Security Council told Forbes.
New documents that set standards on handling card holder data are expected at the end of the month.