Elavon helps European customers reduce data breaches threat with PCI

Secured P2PE provides Elavon’s European customers with some of the strongest commercially available encryption protection by making card data valueless if stolen. It emphasises Elavon’s commitment to be a trusted choice for businesses looking for a payments partner.

Elavon’s solution helps businesses defend themselves from the increasing number of data breaches. By encrypting credit and debit card data on point-of-sales terminals, it prevents the personal information of customers from being accessed during cyberattacks. Secured P2PE works by encrypting sensitive card payment until delivery to Elavon’s secure decryption environment.

A strict chain of custody, including secure devices, applications and processes satisfies requirements for a validated PCI Security Standards Council P2PE solution. It also assists companies in reducing the high costs associated with achieving PCI compliance as an integrated, ready-to-go solution for payments terminals.

Secured P2PE can help European enterprises comply with consumer data protection regulations like the EU GDPR, and avoid costly data breaches resulting in mandatory customer notification processes, fines associated with non-compliance, as well as reputational damage.

IBM and the Ponemon Institute’s 2018 The Cost of a Data Breach report estimates the average costs of data breaches in Germany at €4.05 ($4.67) million, in France at €3.67 ($4.27) million and in the United Kingdom at £2.84 ($3.68) million. Furthermore, this global study points to the extensive use of encryption as a top factor to reduce the per capita cost of data breaches.

Hannah Fitzsimons, EVP and General Manager, Elavon Merchant Services, said: “Preventing data breaches is a top priority for European businesses set on strengthening their cybersecurity. We are pleased to offer PCI-validated solution that encrypts payment transactions on point-of-sales terminals. Most importantly, Elavon is dedicated to providing peace of mind to businesses who need to protect their customer data and help them avoid data breaches.”

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