With Europay, MasterCard, Visa (EMV) quickly becoming the global standard for chip-based transactions, credit card data is no longer being stored at the PMS level, but rather tokenized. Why is this important? Through interfaces on SkyTouch Technology’s cloud-based hotel management system, hoteliers can process EMV payments to help prevent the fraudulent use of stolen card data in card-present environments.
On Wednesday, November 8th, SkyTouch Technology is hosting an interactive webinar with EMV payment provider Shift4. We have put together a panel of experts from SkyTouch and Shift 4 to discuss the implications of EMV for hotels.
With SkyTouch’s EMV payment interface with Shift4, it’s easy for hotels to adopt EMV without changing their financial relationships and gives them the freedom to negotiate the best payment processing rates or make a switch if needed.
Here are the three steps we will discuss.
Step 1: EMV
EMV does nothing to actually secure payment data. It is a card-present fraud prevention measure. To be truly secure, you need to complete the trifecta by adding tokenization and point-to-point encryption (P2PE).
Step 2: P2PE
P2PE encrypts all payment card data at the point it first interacts with a payment device. This ensures that card data never enters a hotelier’s system, helping to lower their PCI scope and the risk of a data breach.
Step 3: Tokenization
Tokenization replaces sensitive cardholder data with a randomly generated, globally unique value, or a token. This prevents actual card data from being stored in the hospitality environment, and leaves only the tokenized card number behind, which is useless if it were fall into the wrong hands.
With these three technologies combined, hoteliers can help secure every touchpoint in their payment processing environment and maintain maximum security against the ever-evolving and ever-present threats of those who want to steal cardholder data.
Register now to be part of the “Importance of EMV for Hotels” webinar being held online on November 8th at 2:00PM eastern time, 11am pacific time. It’s free and is sure to be fascinating.