Payments Security Task Force releases roadmap for US payments security

Tuesday 23 December 2014 00:28 CET | News

The Payments Security Task Force, a cross-industry group of US payment networks, issuing and acquiring banks, merchants and others, has released a strategic roadmap for all the stakeholders in the electronic payments space, according to

The roadmap outlines the current state of the security landscape, the technology available to secure payments and recommendations for each of the stakeholder groups. The task force identified the implementation of chip technology as the near term goal, with an increasing reliance on tokenization and encryption moving forward. It also provides advice on how each group represented in the task force (merchants, acquirers/processors, issuers, payments systems, integrators and value-added resellers) can interact with each technology.

In order to ensure that the industry successfully addresses the threats of today while anticipating the challenges and opportunities of the future, the US Payments Security Task Force was assembled in early 2014.

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Keywords: Payments Security Task Force, payments security, electronic payments, chip technology, tokenization, encryption
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime