The white paper details the rise of digital payments and the global data regulatory environment, and technologies/methods to secure payment, PII and PHI data
June 18, 2020 – Atlanta, GA – Bluefin, the leading provider of payment and data security solutions that protect point-of-sale (POS) and online transactions, has released a new white paper for the 2nd Virtual European Association of Payment Service Providers for Merchants (EPSM) meeting. The paper reviews data privacy regulations, including GDPR and CCPA, how Personal Information is defined by these laws, the tools and technologies to secure data, including encryption and tokenization, and the merit of a Devalue the Data approach to payment and data security.
Founded in 2005, EPSM is a non-profit trade association that facilitates an information exchange on payment-related issues between its members and with European institutions, while providing the latest news and developments in the European payments market. The organization includes 68 members from 16 European countries and one member from the United States.
Bluefin is a global provider of integrated and stand-alone PCI-validated point-to-point encryption (P2PE) solutions and their ShieldConex® data security platform. The company’s partner network currently includes over 130 processors, payment gateways and ISV’s operating in 32 countries, which provide Bluefin’s P2PE solutions direct to merchants, enterprises, healthcare organizations and more. Bluefin’s European footprint includes 6,000 merchant locations, three processing partners servicing car rental, airlines, fuel stations, and FMCG Retailers, and three Key Injection Facilities (KIFs).
The new white paper serves as an educational resource on payment and data security for merchants, payment processors, acquirers and technology providers worldwide.
“Use of cash has plummeted while credit cards, contactless and mobile take center stage – particularly during the time of COVID-19 – resulting in more payment data traversing networks,” said Ruston Miles, Chief Strategy Officer, Bluefin “Merchants globally need to embrace a holistic approach to payment and data security, deploying technologies such as P2PE and tokenization to devalue data in transit and at rest. The importance of these solutions will only increase as more data is processed electronically and ‘Defending the Fort’ – manually securing every data touch point – is no longer feasible.”
The paper is being presented in conjunction with EPSM’s 2nd Virtual Meeting being held remotely.
“Bluefin is a proud EPSM member and we are excited to be presenting this educational white paper to their members,” said Rodney Farmer, Bluefin Strategic Advisor and EPSM Board Member. “We hope that it will provide the information and tools that organizations need to assess the payment and data security technologies they should have in place to meet global regulations and protect their consumer and company data in the event of a breach.”
The white paper is now available for download.
The European trade association EPSM represents the interests of payment service providers for merchants, like acquirers and internet PSPs for payments acceptance. As a not-for-profit organization, it provides a cost-effective interest representation and general information exchange on payment topics to its members.
Since its founding in April 2005, the specialized EPSM has grown to68EPSM members with headquarters in 16 European countries(AT, BE, CH, CY, CZ, DE, FR, GR, HU, IE, IT, LU, LT, NL,SE, UK) and one country outside Europe (USA). There are 35 voting (ordinary) members, like acquirers, payment network operators, and internet payment providers, and 33non-voting (extra-ordinary) members, like payment schemes, service providers, and terminal manufacturers.
The association has been in contact with the European Commission, the ECB, the EBA, and other European and national organizations has actively taken part in several consultation proceedings. EPSM representatives are also active in the EU Payment Systems Market Expert Group (PSMEG) and the global PCI SSC Board of Advisors (PCI BoA).The services for members include three EPSM meetings per year with external speakers, up-to-date information by e-mail, a homepage with a non-public intranet, a small PSD2-SCA working group, and a regular “EPSM Market Research Newsletter “and “EPSM Legal Research Newsletter”.