Upgraded Security Tools
At Millennium Payment Systems, we understand that you may have security concerns when it comes to payment processing solutions. To this end, you can enjoy peace of mind with the upgraded security tools we use in all our payment processing systems. You can ensure that both your data and that of your customers’ can be kept confidential at all times.
With end-to-end encryption, you can have peace of mind that unauthorized users will not gain access to any meaningful information. Confidential data such as account numbers will be converted into cipher text with no meaning, and large amounts of data can be encrypted quickly. Only third parties who have the encryption key will be able to make sense of this data. You can be assured that when confidential data leaves your organization, it will be in an encrypted form that makes no sense to outsiders.
Data tokenization takes a meaningful piece of information and turns it into a randomly generated string of letters and numbers. Unlike encryption, this information cannot be made sense of using a key or code. A database, also known as a token vault, is where the relationship between the meaningful piece of information and the randomly generated cipher can be found. This database is, in turn, secured with encryption.
Integrated EMV Chip Sensors
Europay, Mastecard and Visa (EMV) integration makes use of two elements: a card and a POS device or terminal. The integrated chip on each EMV card communicates with the sensor on each terminal to authenticate in-person transactions. This system was launched in 1993 to reduce the number of fraudulent transactions that are conducted in person. With the EMV standard being introduced, merchants are no longer liable to pay any costs incurred by a fraudulent transaction. Instead, the responsibility falls on the card issuer.
In comparison with magnetic stripe cards, it is much harder for fraudsters to gain access to the details on a EMV card for the following reasons:
One-time password (OTP) or single-use transaction code is generated each time a transaction is made
The chip itself is unable to be cloned
To ensure that your data can be kept securely on each terminal and device, fingerprint logins are encouraged for ease of access. It serves as a quicker and easier way to login that does not compromise on security. This must be supplemented through the use of a strong passcode, one that is not easily guessable to unauthorized users.
Find the Payment Processing Systems You Require at Millennium Payment Systems
There are many reasons to choose Millennium Payment Systems for your payment processing systems, amongst them our competitive rates, round-the-clock customer support team, and our promise of no hidden fees, always. To top that off, our commitment to keeping our clients’ data confidential is another reason why you should choose us. Feel free to call us at 1-800-844-6009 to discuss our upgraded security tools and how our payment processing systems can benefit your business.
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