08/10/2010

Out of the Shadows

“US Processor, ProPay, which specializes in e-commerce transactions insists that ACH-related fraud is on the rise.  In May it extended the protection measures it uses for card information to ACH transactions.  Hence ProPay encrypts the data as soon as it receives it and forwards data to where is needs to go, identifying it by a token.  The merchant only receives the token, not the data, hence it is of no use to criminals. Gartner reckons it is the first processor to offer this kind of protection…”