How can merchants address the threat of a payment data compromise?
Credit and debit cards have rapidly become the preferred payment method across the globe. We all swipe our credit cards at the check-out counter and enter our credit card numbers into e-commerce websites, usually with little thought to where the data ends up. But there are people waiting on the other end of that transaction ready to capture payment data and use it fraudulently.
Network intrusions and data compromises continue to plague the payment card industry. At the 2012 RSA Annual Security Convention, RSAʼs Executive Chairman, Arthur Coviello, told the audience, “Our networks will be penetrated. We should no longer be surprised by this.” His statement came within months of the disclosure that RSA, one of the worldʼs largest and most respected security companies, had been breached and the code to SecureID, their two-factor authentication solution, stolen. Mr. Coviello then told the attendees, “The reality today is that we are in a race with our adversaries and right now, more often than not, they are winning.”