ControlCase, a PCI-compliance company headquartered in McLean, Va., recently received authorization to validate the full range of payment applications and encryption device management solutions that P2PE providers offer to merchants, according to a company press release. The PCI Security Standards Council in April announced that all card holder data must be encrypted at the first point of sale, whether the POS is a traditional retail terminal or a mobile payment application.
These new standards may bring major benefits to merchants because when implemented properly, the use of P2PE solutions may actually simplify a merchant's annual PCI Data Security Standards compliance requirements, CEO Kishor Vaswani said in the release. As a result, costs for the merchant may decrease as well. And with the added security and mitigation of potential breaches the new standards bring, merchants may be better able to take advantage of the growing range of technologies — such as mobile payment acceptance — that are blossoming.
"We provide a single source for compliance solutions in the payment card industry, which means we must consistently maintain the highest qualifications and skill sets," Vaswani said. "In this way, we can continue to help our clients respond to regulatory environment changes and implement the latest security standards that may improve their efficiency and reduce their costs."
Read more about PCI compliance.