New banking security regulations established by brands: more than a challenge, a responsibility

The evolution of the payments sector is considered one of the most mature in the adoption of security schemes due to the growth of 12% in cashless transactions (2016 -2017) and which will continue at a rate of 14% (2017 – 2022), according to the latest World Payment Repor report issued by the Capgemini Research Institute, and so proportionalto to this growth of digital payment alternatives are expanded the security controls that safeguard card-holders’ data and also the security of companies Financial.

Entities such as PCI, ANSI and card brands periodically generate such regulations, which help strengthen the information exchange scheme for payment execution and transaction and system connectivity. Which is a complex company that requires the identification of the impact and the proper application of them.

Encryption models (3DES or 3D), key blocks (TR31) and authentication message exchange (CVN18) are part of the new security regulations required in the first world, eliminating insecure processes such as data export and generating More secure key exchange APIs that intensify the protection of sensitive data, so companies like IBM will soon stop supporting DES ciphers to strengthen the global payment environment, ensure compliance, and data protection with the adoption of regulators.

“These changes need to be addressed quickly, making it easier for financial institutions to adopt, implement and support regulatory, the different algorithms and authentication schemes in the transactional process”

Rafael Holguín Cryptographic Specialist – CLAI PAYMENTS CORPORATION

CLAI PAYMENTS®, a company specialized in payment systems, participates on a recurring basis in prestigious encryption architecture courses for transactional security, at CCA/ICSF Course in Copenhagen, Denmark, the new regulation and application of 3D Secure, key blocks and high-level architecture schemes was analyzed to generate cryptographic implementations with the highest security standards.

In this ongoing analysis of security architecture and management, CLAI PAYMENTS® strengthens solutions for the market in the management of the cryptographic process required in mission-critical systems, in order to help financial companies, processors, retailers and banks in the region to continuously comply with regulations, global regulations and latest advances in data encryption technology, meeting the changing needs of the payment environment.

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