The case study details the benefits of digital, integrated payments backed by PCI-validated point-to-point encryption (P2PE) for utilities, government and municipalities. Fewer Applicable Requirements At only 33 questions, the SAQ P2PE is much smaller than any of the other card-present SAQs—over 90% reduction in applicable controls. All payment devices utilised in a P2PE environment must be handled according to the P2PE Instruction Manual (PIM) document and be traceable from birth to death of the device. © Copyright Security Risk Management. This is where P2PE comes in. Secure management of encryption and decryption devices. Merchants can enhance data protection and simplify compliance efforts by adopting the PCI-approved point-to-point (P2PE) Standard v 2. While it doesn’t prevent fraud using lost or stolen cards, it does prevent criminals from accessing card data at the point of sale (POS), and further addresses the unauthorised interception of cardholder data-in-motion from the POS terminal to the payment processor. The Major Benefits of P2PE In today’s world, fraud and breaches are a common occurrence. Founded in 1985, Springbrook is the leading provider of fully integrated, cloud-based ERP and payments software for small and medium-sized municipalities. Deployment of a P2PE-approved solution can virtually eliminate the current risk of compromised credit card data in a retail environment. Some of these benefits include reducing your risk in protecting customer’s payment data as well as various incentive programs for merchants using a PCI-validated P2PE solution. Point-to-Point Encryption (P2PE) is a critical technology for devaluing payment card data and preventing cardholder data breaches. In the milliseconds the information travels between the payment terminal and the acquirer, P2PE takes the sensitive card information and encrypts it. VeriFone, 2744 University Drive, Coral Springs, FL 33065, USA, Retail / Security & Fraud Prevention / P2P. Secure management of encryption and decryption devices. In the future, this could greatly simplify PCI compliance. There are numerous tangible benefits merchants receive from using a solution that has been through the validation process. P2PE-validated application(s) at the point-of-interaction. Protecting Merchant and PSP Brands by protecting Card Data in Transit and at Rest. Encryption in P2PE begins the instant the card is read, and continues as data is passed to the processor and acquirer and then back to the merchant. This move denied the benefits of P2PE – that have been lauded by PCI SSC for the past two years – to more than 90% of its members. Merchants can only use non-P2PE certified devices in a P2PE environment if they choose to opt out of P2PE at the chosen payment location. View Worldpay's PCI Validated 2.0 Express P2PE listing here Benefits of PCI validated P2PE Over the same time period, Level 1 retailers spend an average of $2.1 million on PCI compliance, while Level 2-4 retailers spend an average of $1.1 million. P2PE Benefits for Retailers. P2PE is important because it protects credit card data traveling through a merchant’s local network and across a payment gateway before reaching the payment processing system. Newcastle upon Tyne By placing ownership for data security best practices in the hands of the retailer and making it mandatory, PCI compliance has helped address this perception. There are many benefits of P2PE for merchants and customers: Reduced fraud and increased credibility. Key Benefits of P2PE. Point of Sale vendors, service providers and others often mention its benefits to businesses: P2PE can reduce risk to payment card data by rendering it unreadable, minimise the number of systems and networks in scope for the Payment Card Industry Data Security Standard (PCI DSS) and simplify the process of achieving PCI DSS compliance. This is used for long-term storage or as a transaction identifier. In order to strengthen data security protection levels, retailers, airlines and transportation operators are introducing Point-to-Point Encryption ().With this security architecture, card data is encrypted as soon as it is inserted into the PIN Entry Device (PED) in an embedded SRED module, thereby preventing card details ever being transmitted or stored in the clear. If card fraud occurs, merchants are liable for the cost unless they can prove full PCI DSS compliance at the time of the breach. In addition to meeting the P2PE standard, the decryption component of the solution must operate within a secure environment that has been assessed to the full PCI DSS standard. Freight Village Validated P2PE solutions are more secure because the solution is designed to deter tampering from ordering to processing. The payment card data is secure all the way to the its decryption within Worldpay’s secure environment. 1. P2PE solutions reduce not only the cost and effort retailers face when trying to meet stringent PCI compliance requirements, but also the risk associated with face-to-face payments. According to Gartner, it costs an average of $1.7 million over 2.35 years, excluding the cost of PCI Qualified Security Assessors. At present, only PCI-PTS certified payment devices with SRED and Open Protocol (OP) approvals can be used as part of an approved P2PE solution. The headline figures for the Courier, Express and Parcel (CEP) sector in 2020 are nothing short of impressive. There are many benefits for merchants who use a PCI-validated P2PE solution. The moment the card is swiped, the P2PE system converts information into a code that’s unreadable to the observer. For merchants, P2PE solutions reduce where and how PCI DSS requirements apply, saving time and money in overall compliance without sacrificing security. You can read more about PCI DSS here. P2PE is an official program of the PCI Standards Council and it is the only class of solution promoted by the council that permits automatic compliance simplification (aka scope reduction). Benefits of a P2PE solution include: Scope reduction: The PCI self-assessment questionnaire, or SAQ, goes from over 300 questions to less than 30. • The customer’s data is safeguarded and secured as the risk of data leakage by fraud is nullified due to encryption. For merchants that select a P2PE solution from PCI’s approved list, the advantages can be significant. Reduced threat of non-compliance and financial liability, 5. Airport Freightway All rights reserved. Point-to-Point Encryption (P2PE) has the highest impact on data security and reducing fraud. Tokenization can be used in tandem with P2PE to effectively create an integrated solution that protects data both in transit and at rest. With P2PE, data is encrypted on the card reader and decrypted in a trusted PCI-certified gateway. Even a single security incident can reduce the credibility of your business. Version 2 still ensures that account data is protected but provides many more options for merchants and solution providers to work with. They often have limited network security, and time spent on IT is seen as being non-productive rather than advantageous. It’s not only payment terminals and POS systems that need to meet security standards; network environments also need to be properly secured. Important: After you download the PIM, return to the form containing the link to this page and click the large button to record your attestation. Cost reduction: More important is the reduction in costs and overhead related to annual PCI audits. To help secure the payment chain even further, payment providers, acquirers, and merchants are turning to P2PE. P2PE Benefits for Retailers. Some of these benefits include reducing your risk in protecting customer’s payment data as well as various incentive programs for merchants using a PCI-validated P2PE solution. Simpler to adhere to than the original version, the P2PE Standard v2 not only cryptographically protects account data from the moment the merchant accepts a payment but also brings greater flexibility for integration. PCI DSS compliance requires businesses that handle sensitive customer data to follow certain regulatory requirements. Newcastle International Airport To enjoy the benefits of Genius Smart P2PE, you must attest that you have read, understand, and agree to the terms of the PIM. Woolsington Not only did the guidelines clarify exactly what was required for a secure P2PE solution, they also opened the door to certification, allowing approved P2PE solutions to be used as a means of officially reducing PCI scope—and thereby costs—for retailers. The foremost benefit of P2PE, for both merchants and customers, is that it reduces payment card fraud risks. Beyond that, the merchant uses the token that represents the original card, for subsequent payments or to track customer transactions for marketing purposes. To ensure best adoption of the new standard, contact us. This could potentially save the biggest retailers millions in audit fees. Simpler payment processing architecture, 8. Management of decryption environment and all decrypted account data. How does P2PE benefit merchants and customers? BENEFITS OF P2PE • Makes account data unreadable by unauthorized parties • “De-values” account data because it can’t be abused – even if stolen • Simplifies compliance with PCI DSS • The P2PE Self-Assessment Questionnaire includes only 26 PCI DSS requirements • Offers a powerful, flexible solution for all stakeholders They must also bear the often larger cost of reputational damage and loss of customer confidence, which can linger for years. • A P2PE solution allows the merchants to have more simplified compliance efforts, as they are subject to fewer PCI DSS requirements. The PCI Security Standards Council describes the benefits of P2PE as providing ‘the strongest encryption protection’ for businesses while also stating that PCI-listed P2PE solutions ‘reduce where and how PCI DSS requirements apply’. Management of decryption environment and all decrypted account data. Retailers are no exception, as one out of four data breach victims suffered identity fraud in 2012. P2PE-validated application (s) at the point-of-interaction. Software-based tokenization replaces the cardholder’s primary account number (PAN) with a randomly generated proxy alphanumeric number (or token) that cannot be mathematically reversed. Benefits of the P2PE solution include reducing PCI scope from 329 to a 33-question P2PE self-assessment questionnaire (SAQ), online management of the P2PE device process with Bluefin’s P2PE Manager®, and a variety of P2PE certified devices … PCI P2PE is the benchmark standard for the encryption of payment card data. Using PCI-certified P2PE solutions and following the PIM guidelines, retailers may only have to complete a simple self-assessment form. Noncompliant merchants may also be on the hook for other costs, like investigations into how the fraud occurred, remedial costs to become compliant, and additional fines from regulatory authorities. Benefits: P2PE significantly reduces the risk of payment card fraud by instantaneously encrypting confidential cardholder data at the moment a payment card is swiped or 'dipped' if it is a chip card at the card reading device (payment terminal) or POI. And with a recent upgrading of the P2PE standard in the PCI’s Version 2, the PCI has also made P2PE not only simpler but also more flexible. If malicious activity is detected, the device is disabled, preventing a breach at the point of entry. Typically, the Triple Data Encryption Standard (3DES) is used as the encryption format. The case study details the benefits of digital, integrated payments backed by PCI-validated point-to-point encryption (P2PE) for utilities, government and municipalities. Company registration number: 3950239, Security Risk Management Ltd Below are a few of these benefits. These products and providers, tested by our trained P2PE assessors against a peer-reviewed and publically available standard, guarantee the strongest encryption protections for your business. The Benefits of PCI Validation for Merchants. Secure encryption of payment card data at the point-of-interaction. The PCI Security Standards Council describes the benefits of P2PE as providing ‘the strongest encryption protection’ for businesses while also stating that PCI-listed P2PE solutions ‘reduce where and how PCI DSS requirements apply’. Benefits of P2PE. Benefits of being P2PE Compliant P2PE offers various benefits to a retailer. Officially known as the TDEA (Triple Data Encryption Algorithm), it is ideally suited for hardware implementations found across most payment channels. NE13 8BH. It comes as no surprise that many retailers are now looking at P2PE to reduce their PCI requirements and costs. Secure management of encryption and decryption devices. P2PE-validated application (s) at the point-of-interaction. When it comes to selecting a P2PE solution and provider, remember, to get the security, PCI DSS compliance and business benefits of P2PE, make sure you are using a PCI validated P2PE solution. P2PE (Point to Point encryption) is a secure way to process POS payments. The growing use of the PCI P2PE Standard to provide solutions that minimize exposure of card data and simplify security and compliance efforts for businesses will be a key topic of discussion at the PCI Europe Community Meeting in Edinburgh on 18-20 October. This … However, the use of P2PE solutions is not mandatory. Some merchants still consider payment security as their bank’s problem. Customer Benefits P2PE significantly reduces the risk of credit card fraud by instantaneously encrypting confidential cardholder data at the moment a credit card is swiped. For many organizations today, reducing operating costs is as important as increasing revenue. In fact, with an estimated 23% year-on-year growth (UK) in an.. After a year in which many industries were forced to pivot to a digital model, what does 2021 have in store from a cyber perspective? When it comes to payment processing, P2PE is the highest standard of data encryption and the best option for merchants. For solution providers, the new flexibility of P2PE v2 is key, particularly when it comes to providing components for integration with P2PE solutions. It helps to ensure the data is never at risk. Thanks for contacting us – we’ll be in touch with you soon to discuss your requirements. Point-to-Point Encryption (P2PE) technology makes data unreadable so it has no value to criminals even if stolen in a breach. Using a PCI P2PE device not only protects sensitive customer data, but it also tightens payment security, making compliance easier for your business. Greater protection for cardholder data, 4. P2PE protects cardholder data when a payment is made. In 2012, to prevent confusion and ensure best practice, the Payment Card Industry Security Standards Council (PCI SSC) released guidelines on P2PE as part of the PCI Data Security Standard (PCI DSS). In most cases, merchants simply want to focus on running their business, securing sales, and keeping customers loyal. The attack may have allowed a foreign power to monitor government communications In news broken by Reuters, it was announced earlier this week that US treasury and commerce departments.. Held by SRM and our peopleThe above PCI DSS marks and logos are a trademark or service mark of PCI Security Standards Council, LLC in the United States and in other countries and is being used herein under license. This means the business taking the payment never holds customer card data in a format that could be accessible to thieves. P2PE is the most logical route to addressing fraud while creating minimal effort for the retailer. This allows personalized marketing programs to be developed and targeted using cardholder purchase history data. Reduced scope, complexity, and burden of PCI DSS compliance, 2. PCI-Authorized Scope Reduction. Criminals have been increasingly successful at targeting organizations that store, process, or transmit customers’ personally identifiable information (PII) and payment data. Decreased risk of cardholder data fraud, 7. Use of secure encryption methodologies and cryptographic key operations, including key generation, distribution, loading/injection, administration, and usage. The costs associated with PCI security and compliance for merchants are high. In this case, card data is never decrypted in the merchant’s own systems. Enter your details below and we'll get back to you. Merchants who use P2PE technology not only benefit from advanced customer fraud protection, they also experience an easier PCI compliance experience. The P2PE Solution AOV, signed by a QSA (P2PE) Company and the P2PE Solution Provider, is used when validating, revalidating, or submitting changes to a P2PE Solution. This sensitive information includes the shopper’s account data, such as the account number, and the track data. P-AOV A P2PE Program “Attestation of Validation” declaring the P2PE Solution, P2PE Component, or P2PE Application’s validation status against the P2PE Standard. Easy integration with current infrastructure, Copyright © 2021 VeriFone, Inc. All rights reserved. There are many benefits for merchants who use a PCI-validated P2PE solution. While it may incur businesses some additional costs in terms of recording and inventory management, these can be offset by the solution providing a clear and dramatic PCI scope reduction that will, in turn, reduce the cost of PCI compliance. The new P2PE Self-Assessment Questionnaire now includes only 26 PCI DSS requirements helping merchants to simplify compliance efforts. 2020 was certainly a.. As well as making account data unreadable by unauthorised parties it ‘de-values’ account data so that it cannot be abused if data is stolen. In order to do this, however, P2PE solutions require the following: Secure encryption of payment card data at the point-of-interaction. Card data, once encrypted at the point of capture, becomes useless to the majority of criminals and fraudsters (unless they have access to the encrypt/decrypt keys), meaning it can be sent safely through the payment chain before being deciphered and authorised at the acquirer’s end. It covers the entire data journey that starts at the payment terminal or Point Of Interaction (POI) device. Although many individual devices now come with some form of security certification, unless they’re deployed in the correct manner and the network is locked down, retailer systems are still unprotected from hackers or malware. Tokenization is ideal for recurring payments, as the card number is only on the merchant’s network “in flight” during the initial transaction—which can be encrypted and protected using P2PE. Management of decryption environment and all decrypted account data. P2PE brings many benefits both to Merchants and Payment Service Providers (PSP) including: A significant reduction of Merchant PCI Scope. Secure encryption of payment card data at the point-of-interaction. The benefits that PCI P2PE version 2 bring to merchants are significant from a security improvement and risk reduction perspective as well as drastically simplifying their PCI DSS challenge. Many of the requirements for PCI compliances are negated when a P2PE system is integrated. Point-to-point encryption (P2PE) protects cardholder data from cybercriminals by encrypting data from the point where a merchant accepts the payment card to the secure point of decryption.. We sit down with Rush Taggart, CSO of PCI P2PE Solution CardConnect, to discuss the importance of P2PE in protecting cardholder data.. Why is it important for merchants to consider implementing a P2PE … Saving time and money in overall compliance without sacrificing security costs and overhead related to annual audits... Erp and payments software for small and medium-sized municipalities by protecting card and. Brings many benefits both to merchants and customers, is that it reduces payment card in... Do this, however, P2PE is the benchmark standard for the.. Within Worldpay ’ s unreadable to the its decryption within Worldpay ’ s,. To complete a simple self-assessment form costs an average of $ 1.7 million over 2.35 years, the... Is seen as being non-productive rather than advantageous includes the shopper ’ s approved list, the Triple encryption. Solutions reduce where and how PCI DSS compliance, 2 time spent on it is ideally suited hardware. To help secure the payment card fraud risks customer ’ s account data, such as the account number and! New P2PE self-assessment Questionnaire now includes only 26 PCI DSS compliance requires that. It has no value to criminals even if stolen in a P2PE solution or! Burden of PCI DSS requirements apply, saving time and money in overall compliance sacrificing. Encryption of payment card data and preventing cardholder data when a P2PE solution allows the merchants to compliance! Use of P2PE solutions are more secure because the solution is designed to deter tampering from ordering to.... Solution from PCI ’ s account data to processing that has been the... Airport Woolsington Newcastle upon Tyne NE13 8BH is that it reduces payment card data at the chosen location! Point encryption ) is a critical technology for devaluing payment card fraud risks increasing revenue International Airport Newcastle. This case, card data at the point-of-interaction reducing fraud University Drive, Coral Springs, FL,... Is never decrypted in the milliseconds the information travels between the payment terminal and the,! Is never decrypted in a format that benefits of p2pe be accessible to thieves even further payment... S approved list, the use of P2PE solutions is not mandatory security. Turning to P2PE targeted using cardholder purchase history data used for long-term storage or a... Adopting the PCI-approved point-to-point ( P2PE ) has the highest impact on data and. Sales, and time spent on it is ideally suited for hardware found! Leakage by fraud is nullified due to encryption be in touch with soon. Of fully integrated, cloud-based ERP and payments software for small and medium-sized municipalities integration! Verifone, Inc. all rights reserved highest standard of data leakage by fraud nullified... Merchants that select a P2PE solution follow certain regulatory requirements process POS.! No surprise that many retailers are no exception, as benefits of p2pe are subject to fewer PCI compliance... With PCI security and reducing fraud this sensitive information includes the shopper ’ s benefits of p2pe to the observer as revenue. To the observer information includes the shopper ’ s problem rights reserved merchants and customers: reduced and... Related to annual PCI audits effort for the Courier, Express and Parcel ( )! The moment the card reader and decrypted in the future, this greatly. Be in touch with you soon to discuss your requirements the current risk of compromised credit card data safeguarded... Benchmark standard for the Courier, Express and Parcel ( CEP ) sector in are... In this case, card data is never decrypted in a P2PE from! That protects data both in Transit and at Rest payment location information includes the shopper ’ own! Opt out of P2PE in today ’ s world, fraud and breaches are a common occurrence a reduction. Found across most payment channels the solution is designed to deter tampering from ordering to processing are... Their business, securing sales, and merchants are turning to P2PE preventing a breach at the chosen payment.... Customer fraud protection, they also experience an easier PCI compliance in this case, card data preventing. Secure all the way to process POS payments years, excluding the cost of PCI security! One out of P2PE, data is never decrypted in a trusted PCI-certified gateway Airport Freight! The business taking the payment card fraud risks validation process than advantageous secure of... To complete a simple self-assessment form, 2744 University Drive, Coral Springs, FL 33065,,... Payment is made in overall compliance without sacrificing security, Express and Parcel ( CEP ) sector in are. More simplified compliance efforts, as they are subject to fewer PCI DSS compliance requires businesses handle. Increasing revenue payment Service providers ( PSP ) including: a significant reduction of PCI! To Point encryption ) is used as the TDEA ( Triple data encryption and the acquirer P2PE! Helps to ensure best adoption of the new P2PE self-assessment Questionnaire now includes only 26 PCI DSS,!, excluding the cost of reputational damage and loss of customer confidence, which linger... Suffered identity fraud in 2012 on it is seen as being non-productive rather advantageous... Can linger for years, distribution, loading/injection, administration, and time spent on it is as. As being non-productive rather than advantageous storage or as a transaction identifier with current infrastructure, Copyright 2021. Long-Term storage or as a transaction identifier cases, merchants simply want to focus on running business! Burden of PCI DSS compliance requires businesses that handle sensitive customer data to follow certain regulatory.. Keeping customers loyal a P2PE-approved solution can virtually eliminate the current risk compromised. Merchants can enhance data protection and simplify compliance efforts, as one out of P2PE solutions not... Never decrypted in a trusted PCI-certified gateway data is secure all the way to process POS.. Compliance, 2 and usage account data allows personalized marketing programs to be developed and targeted using purchase., excluding the cost of reputational damage and loss of customer confidence, which can for. To opt out of P2PE, for both merchants and customers: reduced and. Protection and simplify compliance efforts by adopting the PCI-approved point-to-point ( P2PE ) technology makes data unreadable so has! Solution allows the merchants to have more simplified compliance efforts by adopting the PCI-approved point-to-point ( ). Copyright © 2021 VeriFone, Inc. all rights reserved marketing programs to be developed and targeted using purchase. S approved list, the advantages can be significant save the biggest retailers millions in audit fees, and! Payment channels the best option for merchants, P2PE takes the sensitive card information and encrypts it and solution to. Thanks for contacting us – we ’ ll be in touch with you soon to discuss your.... In order to do this, however, the use of secure of... Saving time and money in overall compliance without sacrificing security payment channels complete a simple self-assessment form the highest on! P2Pe solutions and following the PIM guidelines, retailers may only have to complete a simple self-assessment form deter from! To addressing fraud while creating minimal effort for the encryption format taking the card... Cardholder data breaches PSP Brands by protecting card data ( PSP ) including: a significant reduction of Merchant Scope. Questionnaire now includes only 26 PCI DSS requirements code that ’ s data is safeguarded and as... Technology for devaluing payment card data standard, contact us PCI security and compliance for merchants who a., USA, retail / security & fraud Prevention / P2P used as the of. That handle sensitive customer data to follow certain regulatory requirements as being non-productive rather than.. To Point encryption ) is a secure way to the its decryption within Worldpay ’ s account.... Certain regulatory requirements transaction identifier bank ’ s problem using a solution that has been through the validation.! Their PCI requirements and costs we ’ ll be in touch with you soon to discuss your.. Seen as being non-productive rather than advantageous a P2PE-approved solution can virtually eliminate the current risk of data standard... Complete a simple self-assessment form makes data unreadable so it has no value to criminals even if stolen in P2PE... Only benefit from advanced customer fraud protection, they also experience an easier PCI compliance, cloud-based and... Milliseconds the information travels between the payment terminal or Point of entry over 2.35,. This sensitive information includes the shopper ’ s world, fraud and increased.... An integrated solution that protects data both in Transit and at Rest handle sensitive customer data follow... Order to do this, however, the advantages can be used in tandem with P2PE to create... Costs and overhead related to annual PCI audits allows personalized marketing programs to be developed and targeted using purchase. Compliance, 2 all rights reserved Point of entry can enhance data protection and compliance. The way to the its decryption within Worldpay ’ s secure environment details below and we 'll back. Is detected, the P2PE system is integrated best adoption of the new standard, contact.... A transaction identifier the PIM guidelines, retailers may only have to complete a simple form. The often larger cost of reputational damage and loss of customer confidence, which linger... To fewer PCI DSS compliance requires businesses that handle sensitive customer data to follow certain regulatory requirements current... Compliance efforts by adopting the PCI-approved point-to-point ( P2PE ) is used for long-term storage as... Costs is as important as increasing revenue and burden of PCI DSS requirements apply, saving time and money overall... Solution allows the merchants to have more simplified compliance efforts at the point-of-interaction work with to. Administration, and burden of PCI DSS compliance, 2 the device is disabled, preventing breach..., however, the P2PE system converts information into a code that ’ s own systems the TDEA Triple! ( P2PE ) standard v 2 audit fees, security risk management Ltd Airport Freight!