Industry News

New technologies emerge for credit card processing security and ease of use

By Joseph Trigliari

27/07/2011 - While more merchants are choosing to accept credit cards and more consumers are choosing to use them for standard purchases, technological advancements in credit card processing have improved the security of these transactions.

One new technology, expected to be released soon, is capable of reading the numbers on a credit card through a video, rather than a swipe, reports. The website adds that this type of technology can tell if a card is fraudulent or not better than the typical swipe can.

The consumer will hold the card to a camera, where the image is then encrypted and streamed to the company's servers, while only having to punch in the security code after. This could be a breakthrough in PCI compliance, as the company releasing the program presents it as a more secure alternative to other credit card processing methods.

PCI compliance requires adherence to standard security measures by merchants and member service providers. Northwestern University cites MasterCard's Site Data Protection Program and Visa's Cardholder Information Security Program as two examples of this.  

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