Outsourcing EMV payment card production may be a standard practice. However, relying on a third-party vendor and potentially exposing sensitive data is not a prudent business strategy.
Thus, in-house P3-powered EMV card prepping to gain a competitive edge is a rapidly growing trend to benefit from enhanced cybersecurity, boosted efficiencies, and substantial cost reductions.
This innovative solution allows you to produce your EMV cards using state-of-the-art blockchain technology that guarantees robust data protection and PCI DSS compliance.
So, with that said, let’s delve into P3 EMV card technology, how it works in practice, and why SecureKey’s offering is superior to outsourcing your card production.
What Is P3 EMV Card Prepping Technology?
P3 technology is a next-gen banking innovation that seamlessly combines blockchain tokenisation, AI analytics, and IoT for real-time monitoring with impenetrable payment HSMs to produce in-house, PCI DSS-compliant EMV cards.
EMV tokenisation guarantees secure, binding transactions that combat fraud by transforming sensitive data like Primary Account Numbers (PANs) or PINs to randomised tokens that may only be used on specific devices or transactions.
Removing the PAN reduces the value of the information if it is taken or compromised. Thus, even if the tokens are intercepted or stolen, they cannot be exploited to access the original data or make fraudulent payments, especially when coupled with an impenetrable payment HSM.
Payment HSMs are hardware devices that securely store and manage cryptographic keys, certificates, and algorithms needed to encrypt and decrypt data, authenticate users and cards, and generate tokens.
All payment HSMs are FIPS 140-2 Level 3 compliant, which means they have physical and logical security features that prevent unauthorised access, tampering, or modification.
Above all – P3 technology allows payment processors to maintain control over their Master keys linked to cryptographic keys databases, EMV certificate authorities, and tamper-proof HSMs.
What Is P3 EMV Card Prepping Technology?
P3 technology is a next-gen banking innovation that seamlessly combines blockchain tokenisation, AI analytics, and IoT for real-time monitoring with impenetrable payment HSMs to produce in-house, PCI DSS-compliant EMV cards.
EMV tokenisation guarantees secure, binding transactions that combat fraud by transforming sensitive data like Primary Account Numbers (PANs) or PINs to randomised tokens that may only be used on specific devices or transactions.
Removing the PAN reduces the value of the information if it is taken or compromised. Thus, even if the tokens are intercepted or stolen, they cannot be exploited to access the original data or make fraudulent payments, especially when coupled with an impenetrable payment HSM.
Payment HSMs are hardware devices that securely store and manage cryptographic keys, certificates, and algorithms needed to encrypt and decrypt data, authenticate users and cards, and generate tokens.
All payment HSMs are FIPS 140-2 Level 3 compliant, which means they have physical and logical security features that prevent unauthorised access, tampering, or modification.
Above all – P3 technology allows payment processors to maintain control over their Master keys linked to cryptographic keys databases, EMV certificate authorities, and tamper-proof HSMs.
