Thinking about secure mobile payments? So are we.

Patrick Turiano |

March 30, 2011

After the PCI Council put a hard stop on ruling any mobile payments solutions compliant earlier this month, the past couple weeks have been a complete snowball effect.  We’ve blogged about it here a couple of times, but with the mobile space receiving so much attention, it’s a topic that we cannot ignore. The media isn’t either, as our compliance officer, Markiyan Malko, spoke with Patti Murphy of the Green Sheet this week, for an upcoming article she’s writing.

Due to the PCI Council’s actions many have started to question, “Just how big of a risk are mobile payments?  Are they really secure?”

With the recent mobile buzz, it seems like everyone is ready to jump on the “mobile wallets” bandwagon and live happily ever after with this new way of paying for their coffee.  It’s safe to say that both merchants and consumers are ready to adapt.  However, does this recent ruling leave merchants and the like biting their fingernails with second thoughts about security?

Of course merchants want to provide mobile payment solutions for consumers; however, they do not want to be vulnerable to data breaches and therefore liable if cardholder data is lost or stolen.

Just after the PCI Council made its decision on mobile payments, we announced last week that our new payment product, TransPort.Mobile would allow merchants and POS developers who utilize mobile solutions to process mobile transactions safely and securely, meeting all of the previous PCI-DSS requirements.

If a merchant is using TransPort.Mobile, the customer’s data is encrypted at the time of swipeand is never stored on the merchant’s machine or hosted anywhere, ever. With a solution that uses both encryption and tokenization, merchants can sleep soundly knowing their mobile solutions are processing securely.  Even if they are breached, there is virtually nothing for the hacker to get.

When a breach occurs for a Level 4 merchant, it can be devastating as they are small businesses with lower-tiered sales revenue.  They are the ones who are going to be more susceptible to a hack.  Major fees can come with a breach and it’s just simply not worth the headache of using a solution that isn’t going to process secure data.

As mobile is taking off so fast and in so many directions, merchants need to educate and prepare themselves for this shift in payments, and make sure they are continuously processing safe transactions.