Idemia prepares payment cards for quantum threats with EMVCo certification

This news highlights a major shift in the security of the hardware your customers use to pay. Idemia has secured the first industry-standard certification (EMVCo) for payment card chips designed to withstand 'quantum' cyberattacks. While quantum computing sounds like science fiction, it represents a real future threat where hackers could instantly break the encryption currently protecting credit and debit card transactions. For retailers and service providers, this means the payments industry is beginning a long-term transition to 'Post-Quantum Cryptography' (PQC). You don't need to swap your hardware today, but this certification signals that the next generation of physical cards will soon hit the market. These cards are designed to be 'crypto-agile,' meaning their security can be updated remotely without needing to issue a new physical card to the customer. As a business owner, this is good news for your bottom line. It ensures that the transition to higher security won't cause mass card declines or friction at the point of sale. Secure payment infrastructure is the backbone of consumer financing; knowing that card networks are proactively hardening their tech ensures you can continue to accept high-value financed transactions without increased fraud risk.

Source: Finextra — Lending

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