Vendor Insight: Payment Security: Key Developments

By Rohit Patni, YESpay

Card payments security is fundamental for all stakeholders — financial institutions, payment processors, merchants, and cardholders. With security standards constantly evolving to fight fraud, robust technologies have been adopted by payments systems to ensure security and to protect cardholders' details being transmitted across potentially open networks.

Traditional retail card and mobile payment transactions are upgrading to the next generation security technology involving point-to-point (P2P) encryption to ease the payment card industry data security standard (PCI-DSS) related burden.