Point-to-Point Encryption for Software Providers
Top Reasons To Use Point-to-Point Encryption for Software Applications
It can be challenging to incorporate secure, reliable payment processing into custom business management software, especially in applications that handle card-present transactions. When physical cards are inserted or swiped into an unprotected payment device, it can leave the cardholder’s data vulnerable to theft and fraud. According to the Federal Trade Commission, in 2017 there were over 133,000 reports of identity theft related to credit card fraud. Point-to-point encryption (P2PE) technology can be an excellent solution, providing many benefits for developers, merchants, and their customers.
P2PE technology protects sensitive cardholder data throughout the entire transaction, beginning when the card is swiped, tapped or dipped. The easiest way to integrate this technology into software applications is to use a dedicated hardware device equipped with P2PE.
One of the most important benefits of point-to-point encryption technology is improved security. With P2PE, cardholder data is protected and encrypted immediately at the point of entry (such as a card reader or payment device). This provides several advantages:
- Reduced risk of hacking and theft
- No need to store cardholder data within the software
- Up-to-date protection for sensitive financial information
With P2PE, ISVs can easily implement secure payments into their applications and provide exceptional value to their customers.
Reduced PCI Compliance Burden
Because P2PE technology handles the cardholder data, developers don’t need to incorporate this functionality into their software applications. This allows the software application to drastically reduce its scope of PCI compliance requirements. Reducing PCI compliance from software applications simplifies PCI compliance for both software providers and merchants.
Advantages of P2PE Technology
Software applications that handle card-present transactions have unique requirements. With point-to-point encryption technology, it is easier for ISVs and their customers to protect cardholder data. At Paragon Payment Solutions, our P2PE payment devices are easy to integrate into software applications. Merchants can enjoy plug-and-play functionality and feel confident that their customers’ data is protected. We provide a wide range of devices for businesses of all sizes. Find out more about how Paragon can help you integrate P2PE technology into your application.
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