Paymetric is TokenNATION – Join The Movement to IMPROVE Payment Data Security

We are angry. We are tired. That’s right. We are sick and tired of reading news reports of increasing data breaches of private consumer information. We are starting an industry movement to lower the number of breaches and stick it to the would-be hackers. Join us. Join TokenNATION and do your part to stop the “bad guys” from bringing your business to its knees.

If payment data is compromised, the financial and legal implications are enormous. Failure to secure sensitive data exposes a merchant to a multitude of risks: regulatory, reputation, financial penalties and – in some cases its very existence. According to Databreaches.net, 2009 was the year of the “Mega Data Breach.” The number of personal records that were exposed — data like Social Security numbers, medical records and credit card information tied to an individual — skyrocketed to 220 million records in 2009, compared with 35 million in 2008. That represents the largest collection of lost data on record. With the total cost of a data breach at $202 per record, that quickly adds up to a financial nightmare for corporate America.

Since most companies think they are compliant and are indeed not, they are at risk for a breach or an audit resulting in hefty fines. Unfortunately, most find out the hard way.

What can help? A solid tokenization solution can take companies into a safe harbor and remove all navigational stress from its shoulders. Many people view the core definition of tokenization as the substitution of a credit card number for another (non-credit card) number that has no intrinsic value to criminals on the black market. A token can be thought of as a claim check that an authorized user can use to obtain the associated credit card number.

The bottom line is that tokenization is a technology that leapfrogs the better-known, traditional encryption. Sensitive data is removed from enterprise systems and, as an added bonus, the technology is complimentary to legacy ERP systems. Put more simply, this makes tokenization security “waterproof” vs. simply “water resistant.” And if thieves know a merchant has little data worth stealing, they have low motivation to target the respective merchant’s systems. 

At Paymetric, we bring experience and expertise in tokenization to the table where other companies cannot. With an eye towards the future, Paymetric’s Data Intercept Solutions for XiSecure™ On-Demand takes tokenization to the next level by ensuring that sensitive cardholder data never enters the enterprise payment acceptance system. With solutions like Paymetric’s XiSecure™, merchants have the opportunity to increase profits and sales, while radically improving data security.

Win an iPad at the SAPPHIRE NOW Conference

Follow the "REGISTER HERE" link to enter the credit card number shown on the card below (1234-56785-98765-0000) for a chance to win one of two iPads!

REGISTER HERE

To learn more about tokenization and how it can help protect your business click here.