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News
Strong balance sheet, analysts impressed With P2PE v2, merchants also have greater control over
encryption programs. According to the PCI SSC, large
PayPal begins anew as a public company with a strong merchants can now implement and manage their own
balance sheet – "more than $6.5 billion in cash, and no debt," P2PE solutions for various POS locations, securely
Patrick Dupuis, PayPal's Chief Financial Officer noted in separating duties, systems and functions between the
a statement. "Globally, PayPal processed more than $250 merchant encryption and decryption environments. Or
billion worth of payments in the last 12 months and more merchants can work with a third party to manage PCI
than 4 billion transactions for customers in 203 markets P2PE solutions for them.
last year," he said. Included in those 4 billion transactions
were $46 billion in mobile payments, Dupuis said. In all, Ruston Miles, founder and Chief Innovation Officer at
PayPal generated $8 billion in revenues for eBay last year. Bluefin Payment Systems, one of the first companies
to receive P2PE validation, said, "With version 2.0, PCI
Analysts are generally positive about the prospects for has made the development and implementation of P2PE
an independent PayPal, which closed on its first day of solutions easier. Now solutions providers and merchants
trading, July 20, at $41.30. "The company has a big head can simply choose from individually validated components
start over its [mobile] wallet competitors in terms of trust to build and manage their own P2PE solutions." Another
and online acceptance, which should allow it to benefit benefit is that it creates a new market for vendors.
from the rapid growth of digital payments over the near
term," analysts at Morningstar Equity Research wrote Bluefin Chief Executive Officer John Perry noted the
in a report released on July 20. The report noted ample standard is "recognition of P2PE's critical role in a
opportunities for global growth. 'secure-all-channels' approach to data security," and in
conjunction with Europay, MasterCard and Visa chip card
Jim Sinegal, a Morningstar analyst and primary author and tokenization technology, P2PE offers "the protection
of the report, said the spinoff positions PayPal well to that American consumers deserve."
woo merchants looking for new acquiring partners.
"So many merchants compete with eBay (Amazon, too) Devices get security boost
there's been a reluctance to use these firms for payment
services," he said. Sinegal added that Paydiant already The PCI SSC also released an updated version of the PIN
runs several payment-driven payment platforms, most Transaction Security (PTS) Point-of-Interaction (POI)
notably CurrentC, the mobile platform backed by leading Modular Security Requirements. This standard applies
merchants through the Merchant Customer Exchange. to POI device manufacturers; the devices include ATMs,
unattended kiosks, mobile dongles and POS devices.
PCI SSC revamps P2PE, "As we see increasing attacks on ATMs and at the POS, it's
critical to ensure the highest level of security at the device
device standards level," said the PCI SSC's Leach. Changes introduced in PTS
POI version 4.1 include the addition of a new Core Module
section that addresses configuration and maintenance
procedures, as well as the addition of testing requirements
fter thorough review and input from pay- to validate compliance.
ments industry stakeholders, the PCI Security
Standards Council (PCI SSC) recently released
dard as documented in PCI Point-to-Point Encryption ETA returns to San Francisco
A a comprehensive update to its encryption stan-
Solution Requirements and Testing Procedures Version
2.0. The updated standard provides greater flexibility to for Transact Tech
solutions providers and to entities offering components
that can be integrated into P2PE-validated solutions. The
PCI SSC categorizes elements within the latest standard he Electronic Transactions Association and
by P2PE solutions, software applications, component pro- sponsors PayPal Inc. and Discover Financial
viders and solution providers. Services will hold Transact Tech on Nov. 10,
T 2015 in San Francisco. A keynote address by
The PCI SSC acknowledged the natural learning curve that ETA Chief Executive Officer Jason Oxman will open the
took place after introducing the original standard. "What one-day educational and networking seminar. Conference
we didn't consider in version 1 is that we were thinking presentations will cover a range of topics related to emerg-
that the solutions provider would also be the entity or the ing payment technologies, including peer-to-peer pay-
organization that would decrypt," said Troy Leach, Chief ments, startup investors' roundtable, POS technologies,
Technology Officer at the PCI SSC. "What we've learned authentication methods, and cloud and mobile payment
over the course of several years is that there are scenarios trends.
where you would have a service provider that is only
responsible for decrypting cardholder information."
14
Strong balance sheet, analysts impressed With P2PE v2, merchants also have greater control over
encryption programs. According to the PCI SSC, large
PayPal begins anew as a public company with a strong merchants can now implement and manage their own
balance sheet – "more than $6.5 billion in cash, and no debt," P2PE solutions for various POS locations, securely
Patrick Dupuis, PayPal's Chief Financial Officer noted in separating duties, systems and functions between the
a statement. "Globally, PayPal processed more than $250 merchant encryption and decryption environments. Or
billion worth of payments in the last 12 months and more merchants can work with a third party to manage PCI
than 4 billion transactions for customers in 203 markets P2PE solutions for them.
last year," he said. Included in those 4 billion transactions
were $46 billion in mobile payments, Dupuis said. In all, Ruston Miles, founder and Chief Innovation Officer at
PayPal generated $8 billion in revenues for eBay last year. Bluefin Payment Systems, one of the first companies
to receive P2PE validation, said, "With version 2.0, PCI
Analysts are generally positive about the prospects for has made the development and implementation of P2PE
an independent PayPal, which closed on its first day of solutions easier. Now solutions providers and merchants
trading, July 20, at $41.30. "The company has a big head can simply choose from individually validated components
start over its [mobile] wallet competitors in terms of trust to build and manage their own P2PE solutions." Another
and online acceptance, which should allow it to benefit benefit is that it creates a new market for vendors.
from the rapid growth of digital payments over the near
term," analysts at Morningstar Equity Research wrote Bluefin Chief Executive Officer John Perry noted the
in a report released on July 20. The report noted ample standard is "recognition of P2PE's critical role in a
opportunities for global growth. 'secure-all-channels' approach to data security," and in
conjunction with Europay, MasterCard and Visa chip card
Jim Sinegal, a Morningstar analyst and primary author and tokenization technology, P2PE offers "the protection
of the report, said the spinoff positions PayPal well to that American consumers deserve."
woo merchants looking for new acquiring partners.
"So many merchants compete with eBay (Amazon, too) Devices get security boost
there's been a reluctance to use these firms for payment
services," he said. Sinegal added that Paydiant already The PCI SSC also released an updated version of the PIN
runs several payment-driven payment platforms, most Transaction Security (PTS) Point-of-Interaction (POI)
notably CurrentC, the mobile platform backed by leading Modular Security Requirements. This standard applies
merchants through the Merchant Customer Exchange. to POI device manufacturers; the devices include ATMs,
unattended kiosks, mobile dongles and POS devices.
PCI SSC revamps P2PE, "As we see increasing attacks on ATMs and at the POS, it's
critical to ensure the highest level of security at the device
device standards level," said the PCI SSC's Leach. Changes introduced in PTS
POI version 4.1 include the addition of a new Core Module
section that addresses configuration and maintenance
procedures, as well as the addition of testing requirements
fter thorough review and input from pay- to validate compliance.
ments industry stakeholders, the PCI Security
Standards Council (PCI SSC) recently released
dard as documented in PCI Point-to-Point Encryption ETA returns to San Francisco
A a comprehensive update to its encryption stan-
Solution Requirements and Testing Procedures Version
2.0. The updated standard provides greater flexibility to for Transact Tech
solutions providers and to entities offering components
that can be integrated into P2PE-validated solutions. The
PCI SSC categorizes elements within the latest standard he Electronic Transactions Association and
by P2PE solutions, software applications, component pro- sponsors PayPal Inc. and Discover Financial
viders and solution providers. Services will hold Transact Tech on Nov. 10,
T 2015 in San Francisco. A keynote address by
The PCI SSC acknowledged the natural learning curve that ETA Chief Executive Officer Jason Oxman will open the
took place after introducing the original standard. "What one-day educational and networking seminar. Conference
we didn't consider in version 1 is that we were thinking presentations will cover a range of topics related to emerg-
that the solutions provider would also be the entity or the ing payment technologies, including peer-to-peer pay-
organization that would decrypt," said Troy Leach, Chief ments, startup investors' roundtable, POS technologies,
Technology Officer at the PCI SSC. "What we've learned authentication methods, and cloud and mobile payment
over the course of several years is that there are scenarios trends.
where you would have a service provider that is only
responsible for decrypting cardholder information."
14
