Kllp Amid Claims Of Bias, White House Plans Summit On Social Media
The world of payments products and behavior has advanced tremendously over the past 15 years, but that wave of innovation has had an unfortunate side effect 鈥?the incredible amount of fragmentation and oddly isolated behaviors. Ruben Salazar, head of innovation and products for Visa Latin America and the Caribbean, an
stanley cup d YellowPepper founder and CEO Serge Elkiner joined Karen Webster recently to discuss the problem 鈥?and why Visa just announced a deal to acquire YellowPepper.Salazer said all of us can observe the industrys fragmentation in our own consumer lives. When we want to send kids an allowance, we open Venmo. When its time to shop in store, we open up Apple Pay and when we want to pay the electric bill, we send an ACH payment. I have several apps and all of them technically do the same thing, but I have one account for one use [and] I have another one I use for other cases. Salazar said. The idea is to start making a better container that has the P2P experience, the NFC experience, the QR payment experience and everything else inside it. We need to add a layer here. He said that need to add a layer is what inspired Visa to cut a deal to acquire YellowPepper, a Latin American FinTech, two years after making a strategic investment in the firm.YellowPepper has developed a rich set of application programm
stanley italy ing interfaces APIs to enable issuers, processors and governments to quickly and securely access multiple payment rails
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Security is top of mind for payments executives. Encryption is top of mind for security. But, in some cases, security is not proving to be cost-effective.聽PYMNTS caught up with Rob McMillon, who serves as vice president of product security at Verifone, to discuss better standards across encryption efforts in the payments
gourde stanley industry. Its well-known, said McMillon, that encryption keys are vital to the secure operation of payment acceptance devices 鈥?and yet key protocols are not yet in place to promote an industry-wide standard tied to encryption.As a result, said McMillon, this adds cost and complexity to payment infrastructure and p
stanley quencher rocesses. Speaking a bit to the technology itself, McMillon stated that encryption keys are managed from host security modules, residing in payment gateways. And in the event that updates are needed, they can either be loaded in a remote process or what McMillon said is direct injection at the site of deployment. But industry standards, he added, support technology that is outdated, a 56-bit data encryption standard DES
stanley cup and triple DES.聽With todays powerful computing resources, said McMillon, DES/3DES is no longer considered sufficient to withstand brute force hacking attacks. 聽聽The migration, he continued, is underway to move to an Advanced Encryption Standard AES , which has more robust features.聽Thats especially important in an age when loading new encryption keys is a mishmash of processes that creates complexity for payments pr
