Responding to a significant
increase in interest in end-to-end encryption Visa Europe has
released the payments industry’s first guidance for data encryption
solutions by providing the minimum security practices needed to
help support Payment Card Industry Data Security Standard (PCI-DSS)
compliance.
Visa Europe’s best practices are
based on five basic security objectives:
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Visa Europe’s move has received
strong support from a number of major payments industry players
including UK banks Barclays and HSBC.
“Barclaycard sees the guidelines as
a big step forward in progressing the development and certification
of solutions which will help retailers reducing the scope of
PCI-DSS compliance,” said Neira Jones, head of payment security at
Barclaycard Global Payment Acceptance.
Chris K Davies, CEO of HSBC
Merchant Services commented: “We fully endorse these guidelines
from Visa Europe and feel that they will make a significant
contribution to simplifying the challenges faced by our merchants
while they develop their systems to become PCI-DSS compliant.”
Notably, a report published in April 2009 by professional
services firm PricewaterhouseCoopers concluded that end-to-end
encryption has the greatest potential as a solution for retailers
aiming for PCI-DSS compliance. Adding further weight to the
argument, a survey by French electronics company Thales found that
60 percent of qualified security assessors believe encryption is
the most effective means to protect card data.
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