In the “four corner model”, acquirers are apparently the less active party as their role seems ‘only’ to forward the transaction flow originating from the merchant to and from the issuer. In the model, the acquirer is the merchant’s bank.
Merchants are one of the corners of the ‘four corner’ model in the payment world. In what follows, we will explain some of the security mechanisms for Merchants to prevent unauthorized transactions and payment card fraud.
An issuer is one of the corners in the ‘four corner’ model. An issuer is a financial organization (e.g. a bank) that produces payment cards and allows the cardholders to use them.
The EMV personalization data processing in itself is not the topic of this article, we will instead focus on the cryptographic schemes involved in EMV personalization, as well as the key management involved; which is both complex and mandatory.
Cardholders (or consumers) are one of the corners of the ‘four corner’ model in the payment card world. Here we take a brief look at the payment security in relation to cardholders.
The “Four Corners'' model, also called the Four Party Scheme, is utilized in almost all standard card payment systems across the globe. Here we introduce that model and explain what type of hardware security module (HSM) is needed for each of its components involved in the cryptographic process.
Tokenization is a generalized concept of a cryptographic hash. It means representing something by a symbol (‘token’).
EMV is short for EUROPAY-VISA-MASTERCARD. This term is used to refer to standards that have been designed to improve the security of credit and debit card transactions by using chip technology for payment cards.
A key management system is a critical component in achieving PCI DSS compliance for a banking institution. It involves implementing a crypto system that manages the secure creation, exchange, distribution, storage and use of cryptographic keys for the ultimate goal of protecting users’ or clients’ sensitive data.
