You’d be hard pressed not to notice the increasing number of data breaches in the business papers today. Whether it’s a giant retail store or a healthcare organization, companies are scrambling (unfortunately, after the fact) to ensure their processes and systems are secure.
In a recent article by Digital Transaction magazine, it stated that the recent data breaches have spurred debit card issuers into action, a group that once was reserved around EMV adoption. The article goes on to state that 67% of debit issuers now plan to offer EMV cards in 2015.
And while these PIN and Chip cards offer more security than magnetic strip cards, is EMV the ultimate answer to ensure a breach doesn’t occur in your organization?
The short answer is no. While they are part of an overall data security strategy, protecting cardholder data is not an easy, one-stop fix. Technology exists beyond encryption to ensure cardholder data never touches your ERP system, legacy applications and web stores.
It’s called tokenization and not all tokenization is created equal. Make sure when looking at solution providers that offer this technology that it can easily integrate with your existing processors, saving you time and money.
EMV is here to stay, but it’s not the final word in data security.