Visa is set to make the service available to acquirers and their merchants by early 2013 and is currently working with acquirers, processors and payment technology vendors to provide specifications for integrating Visas solution into payment terminals as well as into all systems across the payment processing industry.
Point-to-point encryption (P2PE) technology allows merchants and acquirers to protect payment card data within their systems by encrypting sensitive cardholder information. Because the card data can only be accessed, or unscrambled, with decryption keys held securely by the acquirer, gateway or Visa, cardholder information is protected within the payment processing environment.
Over the coming months, Visa will provide specifications and implementation guides through technical review agreements.
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