(By Jenna Saab, Knight Rider)
In the era of widespread digital transactions and escalating cyber threats, robust security measures are imperative. Futurex has once again demonstrated its commitment to technological innovation by introducing the Key Injection Solution, poised to redefine payment security standards in alignment with the upcoming PCI PIN v3 regulations effective from 2024.
The impending PCI regulations mandate a transition from traditional to encrypted key injection for Point of Interaction (POI) devices version 5 and above. This strategic move responds to the increasing sophistication and frequency of cyberattacks targeting retail point of sale systems. Futurex’s solution takes the lead in the market by offering support for encrypted key loading, enabling organizations to comply with the newly instituted control objective 32-9 of the PCI PIN 3.1 security requirements.
Commencing this year, the PCI PIN v3 regulations will impact new deployments, prohibiting cleartext key injection to enhance security measures. The affected entities, spanning banks, payment processors, Encryption Service Organizations (ESOs), and Independent Sales Organizations (ISOs), face a collective call to action to adopt more secure key injection methods.
The urgency of this transition is underscored by the approaching deadline for POI v4 devices, whose PCI PTS certifications expire on April 30, 2024. This deadline not only necessitates compliance but signals heightened security risks, increased audit scrutiny, and expanded liability exposure for organizations failing to upgrade in time.
Recognizing the critical nature of this regulatory shift, Futurex has 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. The Futurex solution, deployable as both an on-premises appliance and a cloud-based service, 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, allowing organizations to focus on their core operations and business objectives.
David Close, Chief Solutions Architect at Futurex, highlights 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.