In an era marked by ubiquitous digital transactions and escalating cyber threats, the imperative for robust security measures has never been greater. Futurex once again reaffirms its commitment to technological innovation by introducing the Key Injection Solution initiative, poised to redefine payment security standards in accordance with the forthcoming PCI PIN v3 regulations set to take effect in 2024.
The impending PCI regulations necessitate a transition from traditional to encrypted key injection for Point of Interaction (POI) devices version 5 and above. This strategic maneuver responds to the escalating sophistication and frequency of cyberattacks targeting retail point of sale systems. Futurex’s solution sets the industry standard by offering comprehensive support for encrypted key loading, empowering organizations to adhere to the newly instituted control objective 32-9 of the PCI PIN 3.1 security requirements.
As of this year, the PCI PIN v3 regulations will impact new deployments, prohibiting cleartext key injection to bolster security measures. Affected entities, including banks, payment processors, Encryption Service Organizations (ESOs), and Independent Sales Organizations (ISOs), are collectively urged to adopt more secure key injection methodologies.
The urgency of this transition is underscored by the looming deadline for POI v4 devices, with PCI PTS certifications expiring on April 30, 2024. This deadline not only mandates compliance but also signals heightened security risks, intensified audit scrutiny, and expanded liability exposure for organizations failing to upgrade in a timely manner.
Recognizing the critical nature of this regulatory shift, Futurex has meticulously designed its key injection solution to be both efficient and compliant. Developed in collaboration with leading payment terminal manufacturers, this solution facilitates streamlined encrypted key injection, ensuring full compliance with PCI PIN v3 regulations. Deployable as both an on-premises appliance and a cloud-based service, the Futurex solution offers unparalleled ease of integration into existing operational workflows.
Organizations can achieve PCI PIN compliance within a day, loading hundreds of terminals per hour, and benefiting from the flexibility of deployment from virtually anywhere. Furthermore, the provision of full-service key administration alleviates complexities associated with key management, enabling organizations to focus on their core operations and business objectives.
David Close, Chief Solutions Architect at Futurex, underscores the simplicity and effectiveness of their solution, stating, “We provide the most straightforward and efficient solution to meet these new regulations, enhancing security for the payment industry and representing a significant step forward in reducing fraud and data theft.” This commitment underscores Futurex’s dedication not only to meeting but surpassing industry standards for payment security.
Futurex’s holistic approach to key management is evident through managed solutions encompassing key management as a service (KMaaS) and key agent services. This integrated approach significantly reduces the cost, complexity, and capital expenditure associated with key injection solutions, solidifying Futurex’s role as a leader in the encryption domain.
For further information, please visit the FutureX website.
Media Contact
Company Name: Futurex.com
Contact Person: Media Spokesperson
Email: Send Email
Address:Futurex Engineering Campus 864 Old Boerne Road
City: Bulverde
State: Texas
Country: United States
Website: https://www.futurex.com/