This article talks about how different factors and controls can affect the strength and effectiveness of a cryptographic system's security. It gives particular consideration to the requirements of the Payment Card Industry (PCI).
This article talks about how different factors and controls can affect the strength and effectiveness of a cryptographic system's security. It gives particular consideration to the requirements of the Payment Card Industry (PCI).
MULTOS cards are being deployed in steadily increasing numbers and Cryptomathic is delighted to be involved in MULTOS projects across the globe.
MULTOS is a high-security card platform and issuing model in which the "personalization" of cards with the cardholders' data is done in one single logical step before reaching the actual personalization machines. This is quite the opposite to the standard method of personalizing native cards where the data is sent to the cards, element by
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.
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.
The Payment Card Industry Data Security Standard (PCI DSS) is a security standard for information that protects against credit card fraud and many other security risks and holes. Providers of credit and debit cards, such as MasterCard, Visa, etc., use the security controls and methods outlined in PCI DSS.
Credit cardholders are generally protected from liability if unauthorized transactions are made with their credit cards because of consumer protection laws and card policies. This leaves merchants and financial institutions on the hook for losses related to credit card fraud. According to an October 2016 Nilson Report, card issuers were burdened with 72 percent of fraudulent losses in 2015 while merchants were left with 28 percent of the losses.
EMV chips on payment cards contain cryptographic co-processors and dual interfaces that allow for contact and contactless payment options. When issuing an EMV card, the customer’s information is extracted from the bank or financial institution’s database.
Migrating from magnetic stripes to EMV based smart cards is a challenging endeavour for banks and their IT teams. Even for small banks, necessary card data preparation rapidly overshoots the level of millions of data entries. In the frame of the migration process, banks need new systems and new processes, interweaving additional external entities.
