Breaches Case

430 Words2 Pages
Let me describe a problem that we solve and briefly describe our product. Breaches of credit card data occur periodically - a year was stolen 56 M records ago from Home Depot, a year earlier was stolen 40 M records from Target. Breaches cause not only financial damage but damage reputation also. Breaches cause dropping of shares for public companies. Target announced that data loss caused damages for $ 148 million. We have a solution to this problem. Our service - Payment Firewall hereafter as PF is standing between the payer and the payee (shops, insurance companies, payment system, the mobile operator, etc.). The PF acts as a kind of firewall, which protects a customer from getting potentially risky data (credit card data), and at the same time provides a totally transparent mechanism for payment.…show more content…
It is an axiom of PCI DSS (Payment Card Industry Data Security Standard) - a core set of requirements for payment card processing. In other words, if you have something that can be stolen - you have a risk to lose it. When a client sends data of a payment card, the information reaches the PF and PF puts the card data to a secure repository and then generates a token (numerical code) that forwards to a payee's system. The payee's system decides how to process payment (send to a bank or to a specific processor) and returns a response to PF with information where to send it. PF uses the token from the response to find the original credit card information in the secure repository and then forwards the request for further processing. This type of processing keeps clients from work with real cards. If payer system has no real information, nothing to steal there during processing as it was with Home Depot and Target. The payer system does not store an actual data and this is very important - even if the payer system is compromised, then the price of tokens is
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