Debit cards, as well as credit cards, have become an extremely popular choice of payment mode among people. However, card usage comes with the added risk of fraudulent payments and cyber theft. The banks issuing the cards have to ensure 100% safety for their customers. This is where P2PE (Point to Point Encryption) comes into play. P2PE allows companies to create a secure communication link between multiple devices which prevents intermediate devices from getting access to sensitive information going through the network. Devices that do not have the decryption key cannot access the encrypted information, thereby limiting the exposure of credit card information in the merchandizing environment.
With P2P Encryption in place, the card data is encrypted in the form of an indecipherable code making hacking practically impossible. It ensures that thieves and fraudulent people are not able to hack users’ accounts and steal their data, making card transactions easy for both retailers and customers. Securing transactions is particularly important for retailers in this increasingly regulated environment.
What is P2PE?
The term P2PE stands for Point to Point Encryption. This is one of the standards established by PCI Security Standard Council. The purpose of P2PE is to secure payment transactions by converting confidential card data into an indecipherable code. Having P2PE solution decreases the burden of a retailer. This modern technology ensures that card holder’s data is secure and protected at following points:
- The Point of Transaction request
- The Point of Transaction approval
The Point of Transaction request – Point at which card is inserted/swiped into the device for checkout.
The Point of Transaction approval – Point at which bank processes the transaction and sends a response to the Point of Transaction Device at checkout.
Benefits of being P2PE Compliance
P2PE offers various benefits to a retailer.
- • The customer’s data is safeguarded and secured as the risk of data leakage by fraud is nullified due to encryption.
- • A P2PE solution allows the merchants to have more simplified compliance efforts, as they are subject to fewer PCI DSS requirements. Specifically, it helps in the following ways:
- Takes store completely out of scope as far as PCI compliance is concerned
- Ensures that valuable cardholder data is secured and protected completely
- Decreases PCI compliance cost considerably, due to removal of stores from PCI Scope
- Eliminates the need for investing in costly VPN networks
- Even if advisory can steal data from a communication channel, the P2PE solution makes stolen data less valuable.
- As all security is taken care, P2PE solution allows retailers to focus on the core business
Overall, P2PE is a great way to reduce the scope and hence the effort of compliance, while keeping your sensitive credit/debit card information secure. This is particularly useful for large-sized merchants who have hundreds or thousands of stores and point-of-sale (POS) systems and PIN entry devices (PEDs) that need to be secured, which makes compliance a complex, time-consuming and expensive process. However, by simply using P2PE-compliant PED devices, merchants can remove their stores from the scope of PCI DSS compliance, and apply security in place at the device level.
How SISA can help with P2PE compliance?
SISA is an expert in the field of Payment Security and provides wide variety payment protection solutions.
SISA is a Qualified Security Assessor (QSA) for PCI, eligible to conduct audits and assessment for firms in card payment industry. As a part of P2PE compliance, SISA checks the following:
- Encryption Device Management
- Application Security
- Encryption Environment
- Segmentation between Encryption and Decryption Environments
- Decryption Environment and Device Management
- P2PE Cryptographic Key Operations
As dictated by the Standard, SISA follows the below mandates to perform P2PE assessment.
- SISA approves the P2PE instructions manual if it falls in sync with the actual setup. SISA provides resellers/vendors sufficient guidance.
- SISA being a PCI certified entity submits (post evaluation) PCI PTS compliance reports to PCI SSC for listing and approval.
- SISA submits Attestation of the Validation document to PCI-SSC.
- SISA maintains a stern technique for Quality Assurance for its efforts.
There are a number of Qualified Security Assessors in the industry. However, not many can match up to the competence of SISA, given our decades of knowledge and experience in the space.
Below are a few reasons why SISA is an ideal choice to get your P2PE compliance in place:
- SISA is a seasoned and renowned QSA and a pioneer in the field of Synergistic Security
- SISA’s global presence in over 35 nations reinforces our brand globally
- SISA has a lot of experience in the security assessment services across industries and domains
- Our expertise comes with a layer of exceptional customer service, keeping your success at the core of our agenda
Are you looking to make your business P2PE compliant? Get started with SISA, the Payment Security Specialists!