Chip And Pin

A team of Italian researchers has presented a crack for the chip-and-PIN card verification system that they say makes it possible to skim a PIN number that can later be used with a stolen card.

The PCI Security Standards Council, tasked with managing the Payment Card Industry Data Security Standard (PCI DSS), on Tuesday issued two new guidance documents assessing the impact of emerging data security technologies on payment card security. One paper focuses on point-to-point encryption (P2PE), also commonly known as end-to-end encryption, an emerging technology used to mask cardholder data from point-of-swipe through processing. Properly implemented, P2PE will allow merchants to reduce their scope in complying with the PCI DSS, according to the document. A separate guidance document is focused on EMV, a global standard for authenticating credit and debit card payments. EMV and PCI DSS should complement each other and not be seen as competing standards, according to the PCI Council. — AM

SC Magazine's Angela Moscaritolo recently traveled to Orlando, Fla. to the PCI Security Standard Council's annual North American Community Meeting to learn about the latest changes to the payment security standard and what merchants can expect in the form of additional guidance to reduce their compliance scope. During her trip, she sat down with Jeremy King, who heads the PCI Council's European operations, to discuss the developments.

Nations abroad may be forging ahead of the United States in terms of offering consumers enhanced cardholder protection, but the decision to move toward technology such as chip-and-PIN is not always cut and dry.

The group responsible for managing payment security rules plans to release two new guidance documents early next month assessing the impact of emerging data security technologies on payment card security.

Payment card fraud is dropping slowly in Canada as chip and pin technology makes its way into the market, said a report from Canada's Criminal Intelligence Service last month.