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Four reasons why tokenization matters to businesses like yours Tokenization may sound complicated, but its beauty is in its simplicity. Tokenization substitutes a string of random numbers—known as a token—for private data like payment account numbers. Instead of your full private number passing through multiple systems of varying security, your personal data is tokenized at point of entry. The actual data the token references is stored in highly secure token vaults. Tokenization makes the process of accepting payments easier and more secure for businesses. Tokenization is more than just a security technology—it helps create seamless payment experiences and satisfied customers. Tokenization reduces risk from data breaches, helps foster trust with customers, minimizes red tape and drives technology behind popular payment services like mobile wallets. Best of all, businesses reap all these benefits today. Let’s take a look. Tokenization reduces risk from data breaches Crimin

EMV chip cards are the new way to pay, but what kind of practical changes do they mean to the average merchant and consumer? If you own a business, you've probably seen countless notifications from your payment processor letting you know how important it is to switch your payment system to accept EMV chip cards. Maybe you've already done so without entirely understanding why, or maybe you still haven't made up your mind about whether or not this change is worth it. Here are the top 3 facts about the EMV chip card technology you need to know. 1. EMV Chip Cards Reduce Fraud Credit card fraud is a real threat, and it causes a huge portion of Americans a lot of grief when their data is hacked. A new credit or debit card is not really a huge inconvenience (though it can be after the fifth time it happens in a year), but identity theft can cause huge financial burdens not to mention a lot of wasted time. The potential benefits a criminal can reap from these data

By now you’ve surely heard that chip and PIN credit cards have come to the U.S. in full force. We're about 10 years behind the rest of the world in terms of EMV migration, but starting in 2015, merchants of all types began the shift to accepting EMV credit and debit cards. The reason that EMV technology has now been adopted in the U.S. is that, with the European adoption of this payments technology a number of years ago, payment fraud volume began to shift from Europe to the U.S. where cards have been easier to replicate or use fraudulently. It’s critical that you upgrade your systems to support EMV cards so that your business doesn't become a target for fraud. And if that's not incentive enough, effective October 1, 2015 the so-called fraud liability shift associated with EMV began. That shift essentially places the burden and financial responsibility of fraud at the point-of-sale on the weakest link in securing the transaction. That means, if you're not usi

Regardless of the type of business you operate, if you accept credit or debit cards, you’re responsible for protecting your customers’ sensitive data from theft and misuse. If you don’t you could experience a data breach, fraudulent transactions, more chargebacks, penalty fines from the major credit card brands, legal fees, and more. The threats your business faces on a daily basis aren’t always obvious, especially if you don’t know where to look, or what to look for. Take a quick break to test your ability to spot potential threats to this fictional coffee shop. Can you find all four? This average quick service restaurant scene probably doesn’t scream “security vulnerability” to you at first glance. But as demonstrated in the challenge above, just because security threats don’t announce themselves with a giant warning sign and caution tape, doesn’t mean they aren’t there. The same is true for your own business. Things you don’t necessarily notice, but encounter every day, actual

Encryption is a hot topic in payments today. But it’s not an entirely new concept. Human beings have been using forms of cryptography to protect sensitive information for thousands of years. While today’s payment encryption technology, particularly point to point encryption, is a far cry from earlier rudimentary methods of securing information, the end goal remains the same: render sensitive data non-sensitive so if it is stolen, it cannot be used. One of the most common misconceptions about encryption is that it is the be-all end-all for protecting cardholder data—that having an encryption solution in place is enough to protect a business from data theft. The fact is that criminals continue to find ways to breach merchant systems and access account data. Credit card security and fraud protection is a complex and detailed discipline that requires dedication and focus beyond encryption technology. The type of encryption, where the encryption happens, and how the encry

You may be cool, but you’re not James Bond cool. And that’s okay, because odds are, if you’re reading this article, you’re not an international spy with a cache of high-tech secret weapons either. But that doesn’t mean you don’t have a huge responsibility to protect your customers and your business against a multi-billion dollar, international cybertheft industry. You do. You’re probably thinking, “…who me? Little old me, with my small local business? Surely I can’t be held responsible for the $36,000 per minute fraud industry.” But unfortunately, you are responsible for fraud and data security at your business if you accept credit cards. It's in the fine print of your merchant agreement, regardless of which payment processor you use. Credit card fraud protection is a big responsibility. But with some knowledge and the right support from your payment processor, you can become part of the defense team instead of an unwitting accomplice. Read on to learn more about the