Page 45 - Pay Magazine s2014

volume 8 • spring 2015
The safety of consumers’ data is our and our merchant clients’ top priority. The data compromise and fraud events of the last year have only re- affirmed the need to migrate from legacy detection and prevention security solutions to an environment that em- ploys a layered approach focused on devaluing the
consumer data and rendering it useless if intercepted or compromised by criminals.
We believe that, for merchants, migrating to an EMV-certified POS layered with effective encryption and tokenization services is the right solution. We also
are very excited about the new mobile wallet solutions like Apple Pay and Samsung Pay bringing an added layer of protection for merchants and consumers.
Our TransArmor security bundle provides that end- to-end encryption and tokenization of the transaction. This ensures card data are never exposed and are protected throughout the entire process. And, the system can provide small businesses with the same level of security once available only to large corpora- tions. We also work with our clients to ensure their systems provide protection from malware and ensure that unauthorized devices don’t have access. There is no magic bullet to security. Instead, we advocate a layered, comprehensive approach.
—Mike Gramz,
chief risk officer, Bank of America Merchant Services
paybefore.com 43