Bluefin receives PCI validation for its PayConex solution

PayConex P2PE encrypts credit and debit card data in a point of entry device before it is transmitted into a merchant’s point-of-sale (POS), virtual terminal or payment application. Encrypting cardholder data within the device enables that clear-text cardholder data does not reach the merchant’s POS systems and networks where it could be exposed to malware.

According to the 2013 Cost of Data Breach Study, sponsored by Symantec and conducted by the Ponemon Institute, the average per capita cost of a data breach in the US is USD188 per record. While very large merchants who experience a data breach receive generous attention in the press, the reality is that 55% of small businesses in the US have admitted to a data breach, and 53% of those businesses have had multiple breaches as reported by the Ponemon Institute on behalf of the Hartford Steam Boiler Inspection and Insurance Company (HSB).

Bluefin Payment Systems is a cloud-based provider of integrated payment technologies to independent software vendors (ISVs), SaaS providers and US and Canadian merchants through the PayConex payment platform. Bluefin’s platform powers payments including mobile, tokenization, end-to-end encryption (E2EE) and transparent redirect.