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Its a well know fact that data breaches add up to lost sales and revenue for any business, but even more important are the liability from lawsuits, fines for non-compliance with PCI Data Security Standards (PCI DSS) and damage to a merchants reputation and brand. Compliance with PCI requirements and federal privacy laws, even with state-of-the-art data centers, is difficult and expensive since every touch point where data is handled must be secured.
Unfortunately, businesses that accept payment details for checks and credit cards attract criminals who try to steal or destroy personally identifiable information. The increasing frequency and severity of data breaches proves that these types of criminals have become very sophisticated and skilled at identifying merchants who have left themselves open to their attacks. Paymentsite DataVault, a proven data tokenization and payment processing solution, allows merchants to comply with PCI requirements at a very low overall cost and removes the threats that merchants can experience from a data breach.
Plus, when a customers payment details are stored in the Paymentsite DataVault, merchants have quick and easy access to the payment accounts they keep on file. Fewer click = faster sales and happier customers!
How Data Vault Tokenization Works
Exchanging or replacing valuable data with substituted values creates an environment where stealing customer details are useless for cyber criminals. On the first transaction, merchants submit cardholder data to Paymentsite DataVault using a secure payment processing network. The Paymentsite Gateway encrypts and stores the customer information and then assigns and returns a token to the merchants system.
From that point forward, merchants may send transactions to MGS using the token instead of the customer information. Using tokens speeds up the payment processing experience because there is less need for data entry, and the same tokens can be used for sales, refunds, voids and credits but only through Paymentsite DataVault and the same merchant account.
These tokens have no inherent meaning so they are useless to criminals, even if the merchants system is compromised and data is stolen.
For example:
An actual card number, say 4111 3456 5678 6789, would become a token value XEEG 3433 SER5 ED19. Because its really not the actual “cardholder data,” a token can be safely transmitted through a merchants network, between various applications, business processes and databases while the sensitive data is securely stored and encrypted in the Paymentsite centralized, PCI compliant data repository.
Paymentsite DataVault leverages MGSs deep expertise and stores customer data at secure, PCI certified processing centers, and supports all types of transactions. Like all of the Maas Global services, DataVault is fully integrated into the Paymentsite Platform, the high-performance payment platform that gives businesses of every size the ability to manage the increasing complexity of payment and data security requirements.
About Maas Global Solutions
Maas Global Solutions Corporation (http://www.maasglobalsolutions.com) is a transaction technology company that owns and operates a state-of-the-art, fully redundant, load balanced data center that is Payment Card Industry (PCI) Level I, SAS 70 and Health Insurance Portability and Accountability Act (HIPAA) certified. MGS uses the latest security methods to keep sensitive customer information safe and secure. Contact Maas Global Solutions at sales@maasglobalsolutions.com or call (866.293.4055).
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