P2PE brings many benefits both to Merchants and Payment Service Providers (PSP) including:
Specific Advantages of MagTek P2PE devices include:
Point-to-point encryption (P2PE) protects sensitive credit and debit card data from the point in time it is read, while in transit/storage, and all the way to the payment processor. This technology is also referred to as end-to-end encryption (E2EE).
Learn how to reduce merchant PCI scope with Magtek P2PE terminals, click here.
MagTek's state of the art encrypting devices read and encrypt cardholder information prior to performing an electronic payment transaction. These sophisticated devices use Triple DES Encryption and DUKPT key management technology to encrypt and securely transmit cardholder data over any network (open or secure). The encrypted card data being transmitted looks nothing like the original card data in any way. Even if this card data were intercepted, it would be completely useless to fraudsters and data thieves. With DUKPT a different (dynamic) encryption key is used with each individual transaction.
In recent years, fraudsters have increasingly focused on stealing large quantities of credit card data while in transit/storage. P2PE protects data in transit and at rest.
The PCI Security Standards Council (PCI SSC) has confirmed that P2PE point-to-point encryption is the direction in which processors, software providers and merchants should all be moving.
(https://www.pcisecuritystandards.org/... pr_101005_emv_ptp.pdf)
PCI P2PE, version 1.1 (April 2012) standard is now released:
https://www.pcisecuritystandards.org/... P2PE_v1-1_summary_of_changes.pdf
MagTek has developed advanced encrypting pin pads and mobile payment devices, enabling P2PE of cardholder data using industry standard Triple DES (3DES) and DUKPT making them amongst the most secure payment products in the market.
PCI Security Standards Council (PCI SSC)
https://www.pcisecuritystandards.org
PCI SSC Fact Sheet: Accepting Mobile Payments with a Smartphone or Tablet
https://www.pcisecuritystandards.org/... accepting_mobile_payments_with_a_smartphone_or_tablet.pdf
VISA Mobile Acceptance Best Practices
pressreleases.visa.com/
MagTek P2PE Encrypting PCI PTS Compliant PIN Pad
magtekeurope.com/products/pin-pads-and-management/