Merchants that are clients of Intel Data Protection
Technology for Transactions, payment software that authenticates hardware and
offers data encryption, now have the option of using Visa's payment encryption
method.
Intel currently uses Advanced Encryption Standard protocol,
which encrypts credit card numbers and other items into unreadable data while
transmitting it from, say, a point-of-sale device to a bank or vice versa. However,
without the proper software, an end user may not be able to decrypt the data,
explained Bradley Corrion, retail solutions platform architect for Intel.
Visa's encryption method uses format-preserving encryption, which
maintains the data's format. For example, a 16-digit credit card number will
remain in a 16-digit number format once encrypted, thereby making it simpler to
transmit and decrypt without additional software.
Easier encryption will be useful as the concept
of The Internet of Things grows, according to Corrion. The concept stipulates
that in the future, more devices and other objects, such as wearables, will be connected,
allowing for more data exchanges, including payments. The FPE protocol will
allow users to transform devices and everyday objects into nontraditional POS
devices to securely transmit payments, Corrion said.