Mark Sturman, Massage Envy Franchise Owner
Encoded on the magnetic stripe of every credit card is sensitive personal and financial data, including the cardholder's name, account number and security codes. This information is the prime target for cardholder data theft. Hackers can use malicious software, called packet sniffers, to intercept this sensitive cardholder data passing across a merchant's computer network when running a transaction.
End-to-end credit card encryption (E2EE) ensures cardholder data is protected from the point of card swipe and while in transit to the processor. State of the art encrypted magnetic card readers scan and encrypt cardholder information prior to performing an electronic payment transaction, so that merchants never have contact with unsecured information at all. These sophisticated devices use Triple DES Encryption and DUKPT key management technology to encrypt and transmit cardholder data securely over any network.
Based on findings of a PricewaterhouseCoopers Report debuted at a recent PCI Security Standards Council meeting, the payment card industry is confirming that end-to-end encryption technology is the direction that processors, software providers and merchants should be moving.
Element's Express Processing Platform uses the most advanced encryption technology to secure cardholder data. Element's Express Processing Platform uses the most encryption technology to secure cardholder data. This encryption technology ensures that sensitive cardholder information is never made vulnerable to theft, reducing your risk as a merchant and protecting your customers from fraud. Element Payment Services also incorporates tokenization and authentication into our platform, making it one of the most secure products on the market.
Ready to learn more? Check out our video on credit card encryption or begin the steps to open a merchant processing account.