Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no intrinsic or exploitable meaning or value. The token is a reference that maps back to the sensitive data through a tokenization system. The mapping from original data to a token uses methods that render tokens infeasible to reverse in the absence of the tokenization system, for example using tokens created from random numbers. A one-way cryptographic function is used to convert the original data into tokens, making it difficult to recreate the original data without obtaining entry to the tokenization system's resources. To deliver such services, the system maintains a vault database of tokens that are connected to the corresponding sensitive data. Protecting the system vault is vital to the system, and improved processes must be put in place to offer database integrity and physical security.
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt, as proof of transaction, which is usually printed but can also be dispensed with or sent electronically.
Fiserv, Inc. is an American multinational company headquartered in Milwaukee, Wisconsin. Fiserv provides financial technology and services to clients across the financial services sector, including banks, thrifts, credit unions, securities broker dealers, mortgage, insurance, leasing and finance companies, and retailers.
Verifone, Inc. is an American multinational corporation headquartered in Coral Springs, Florida. Verifone provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments.
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payment processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.
A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers.
First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provides nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and at online outlets for nearly a third of all U.S. debit cards.
Shopping cart software is a piece of e-commerce software on a web server that allows visitors to have an Internet site to select items for eventual purchase.
Moneris is a Canadian financial technology company that specializes in payment processing.
The Payment Card Industry Data Security Standard is an information security standard used to handle credit cards from major card brands. The standard is administered by the Payment Card Industry Security Standards Council, and its use is mandated by the card brands. It was created to better control cardholder data and reduce credit card fraud. Validation of compliance is performed annually or quarterly with a method suited to the volume of transactions:
NTT Data Payment Services is a payment services provider company headquartered in Mumbai, India.
ACI Worldwide Inc. is a payment systems company headquartered in Miami, Florida. ACI develops a broad line of software focused on facilitating real-time electronic payments. These products and services are used globally by banks, financial intermediaries such as third-party electronic payment processors, payment associations, switch interchanges, merchants, corporations, and a wide range of transaction-generating endpoints, including automated teller machines ("ATM"), merchant point of sale ("POS") terminals, bank branches, mobile phones, tablet computers, corporations, and internet commerce sites.
Worldpay is an American multinational financial technology company and payment processing company. Worldpay provides payment and technology services to merchants and financial institutions globally generating 40 billion transactions across 146 countries and 135 currencies.
Ukrainian Processing Center is a Ukrainian company founded in 1997 which provides processing services and software for banks. UPC was the first Ukrainian company within the sphere of processing that received MSP and TPP status in Visa and Mastercard. In April 1997 UPC processed the first ATM EC/MC card transaction. Since 2005 UPC has become part of the Raiffeisen Bank International. The head office of UPC is based in Kyiv. Ukrainian Processing Center provides services to banks in Central and East Europe in the sphere of processing payment cards, merchant acquiring and ATM channel management. UPC also offers integrated IT systems for electronic commerce, card transactions monitoring systems of fraud prevention, card issuing system and SMS banking service. Moreover, UPC was the initiator of the establishment of the united ATM network "ATMoSphere", which consists of payment cards issuing banks. Annually UPC processes more than 400 million of payment card transactions.
Simpay is a United States based company that provides card processing services, payroll, Point of sale (POS) systems, gift and reward cards, ATM services, and merchant cash advances to smaller businesses in a wide variety of industries in the United States.
Cayan is a provider of payment technologies and merchant services, based in Boston, Massachusetts. The company enables payments in physical stores and mobile locations, as well as e-commerce. Cayan was acquired by TSYS in December 2017 and operates as wholly-owned subsidiary of TSYS.
Point-to-point encryption (P2PE) is a standard established by the PCI Security Standards Council. Payment solutions that offer similar encryption but do not meet the P2PE standard are referred to as end-to-end encryption (E2EE) solutions. The objective of P2PE and E2EE is to provide a payment security solution that instantaneously converts confidential payment card data and information into indecipherable code at the time the card is swiped, in order to prevent hacking and fraud. It is designed to maximize the security of payment card transactions in an increasingly complex regulatory environment.
Semi-Integrated Point-of-Sale is a checkout method used by retailers which integrates payment processing and POS software in a secure & streamlined network configuration. Semi-Integration allows retailers to accept Chip/EMV credit card and debit card payments, as well account for inventory changes, returns, voided transactions and other payment functions.
Point-of-sale malware is usually a type of malicious software (malware) that is used by cybercriminals to target point of sale (POS) and payment terminals with the intent to obtain credit card and debit card information, a card's track 1 or track 2 data and even the CVV code, by various man-in-the-middle attacks, that is the interception of the processing at the retail checkout point of sale system. The simplest, or most evasive, approach is RAM-scraping, accessing the system's memory and exporting the copied information via a remote access trojan (RAT) as this minimizes any software or hardware tampering, potentially leaving no footprints. POS attacks may also include the use of various bits of hardware: dongles, trojan card readers, (wireless) data transmitters and receivers. Being at the gateway of transactions, POS malware enables hackers to process and steal thousands, even millions, of transaction payment data, depending upon the target, the number of devices affected, and how long the attack goes undetected. This is done before or outside of the card information being (usually) encrypted and sent to the payment processor for authorization.
Global Payments Inc. is an American multinational financial technology company that provides payment technology and services to merchants, issuers and consumers. In June 2021, the company was named to the Fortune 500. The company processes payments made through credit cards, debit cards, and digital and contactless payments.
