Bluefin Payment Systems, the leading provider of secure payment technology for enterprises, financial institutions and small to medium-sized businesses, announced today that its PayConex PCI-validated Point-to-Point Encryption (P2PE) Solution is now certified for Mobile Payments.
Bluefin’s Mobile P2PE Solution becomes the first North American mobile solution to receive PCI validation. Bluefin’s Mobile P2PE Solution will interface with the company’s QuickSwipe Mobile Point of Sale (mPOS) system, utilizing Infinite Peripherals’ PCI P2PE approved Prima M mobile swipe device.
PCI-validated P2PE encrypts cardholder data within a PCI P2PE approved point of entry device so it does not reach the merchant’s system or network as clear-text cardholder data – where it could be accessible to a fraudster in the event of a data breach.
According to a 2014 Authentic ID survey of 2,000 merchants, service providers, acquirers, card associations and issuers, 66% of respondents now actively support mobile – up 30% year over year. However, 32% view a mobile solution to be riskier than standard e-commerce offerings and say fraud prevention specific to mobile is increasingly necessary.
“In this age of cyber-attacks and security breaches, a secure mobile payment solution is absolutely mandatory. Protecting cardholder data, guarding against fraud and, concurrently, reducing merchant and issuer liability requires a multi-faceted approach to securing card information and customer data,” said Ruston Miles, Chief Innovation Officer, Bluefin Payment Systems. “The security of mobile phones and tablets continues to evolve and merchants do not have the ability to modify mobile device configurations to provide additional levels of security. With our P2PE Mobile Solution, the card reader is tamper proof and all of the card data is encrypted with P2PE upon card swipe so card data is never stored on the device.”
Companies can choose to use the QuickSwipe Mobile P2PE Solution with an iOS phone or tablet, or they can choose the complete QuickSwipe mPOS solution, including the tablet stand, cash register and Bluetooth printer.
Bluefin offers the most comprehensive suite of P2PE solutions in the industry. In March 2014, Bluefin was validated by the PCI Security Standards Council (SSC) for their PayConex P2PE payment platform. In November 2014, Decryptx, the company’s Decryption as a Service (DaaS) product, was introduced. Decryptx enables PayConex P2PE for Enterprises and Tier 1 Merchants with no change to the businesses’ current acquiring relationship. Bluefin’s partners, processors, and service providers can easily add Bluefin’s PCI-validated mobile P2PE capability to their products through the company’s Decryptx offering.
“While mobile payment technology brings increased convenience at the POS, it can also bring new risks to the security of cardholder data,” said John M. Perry, CEO of Bluefin. “Javelin Strategy & Research predicts that mobile POS sales will rise to $5.4B by 2018, which demonstrates the rapid merchant adoption of mobile payments. The use of the PCI P2PE approved Prima M device in conjunction with PCI-validated PayConex P2PE is an optimal security solution for the millions of global merchants conducting mobile payments.”
Bluefin’s PayConex P2PE Solutions prevents cardholder data loss in the event of a breach, and also helps companies reduce their PCI compliance scope to 18 questions in the SAQ P2PE-HW.
Visit Bluefin at the National Retail Federation (NRF) Big Show, Booth #526, January 11th – 13th, to learn more about our suite of P2PE solutions.