Transaction Security

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Merchant Environment Overview of Transaction Security Technology Solutions Tokenization / Encryption 3 4 Tokenization Encryption Key Points Diagram of Tokenization as a Service To date, encryption, along with strong key management, have been the preferred methods of enforcing data protection applications 1 3 Processor Switch 4 Tokenization has gained acceptance as an attractive alternative due to its compelling value proposition Rather than protecting cardholder data widely dispersed across the environment, tokenization removes it altogether from any systems and applications that do not specifically require it Card data in plain text Key Algorithm Encryption Diagram 6824-5153-9182-48952 Merchant 6 6 2 Transaction Log Settlement Data Warehouse Encryption 5 Financial Token 4 Server for Tokenization Acquirer Datacenter Issuer 1. Credit card is swiped at the merchant’s POS 2. Primary acct number/track data/expiration dates are encrypted using a public key in the POS device and sent to acquirer 3. Encrypted transaction is decrypted using private key 4. Card number is passed to bank for authorization and server for tokenization 5. Authorization and token are returned to the merchant Ciphertext Decryption Card data in plain text 1&E2?9Xg4!8%Db@7w 6824-5153-9182-48952 6 6 Analytics Anti-Fraud • Encrypts actual payment information and converts it to a randomized string of numbers, ensuring the safety of sensitive payment details, such as card numbers, expiration dates and security codes • Information is stored in a virtual vault system; if the vault is compromised, the hackers will only be able to steal the scrambled data 6. Token is stored in place of the card number in all places 7. Adjustments, refunds, card-notpresent and settlement use the token in place of the card number Source: RSA Security, First Data. 26
Overview of Transaction Security Technology Solutions 5 Machine Learning / Big Data Analytics Machine Learning Engines and Big Data Increasingly Used to Combat Fraud • Machine learning has emerged as a technology that can effectively combat fraudulent transactions • Rather than segregating specific types of transactions and investigating, these advanced solutions are capable of synthesizing historical and real-time transactions to construct individual progressive models to detect fraudulent patterns (1) Online Machine Learning Engine Block Fraudulent Transactions Point-of-Sale Detection Rules Contextual Analysis Incoming Real- Time Card Transactions Trend Analysis Decision Rules Automatically Track Fraudulent Activity ATM Location Analysis Live Profile Database Categorize Fraudulent Transaction Customer data is constantly aggregated via payment portals – merchants, POS, ATM, etc. – and processed / tagged with data points Client profiles are stored in a database, modeled and constantly updated Source: Feedzai, IBM Research. (1) IBM Research, “Using machine learning and stream computing to detect financial fraud.” Due to the fact that machine learning software updates with live transactions, the ability to react rapidly and change fraud patterns is automated 27
Page 1 and 2: Financial Technology Partners Augus
Page 3 and 4: I. Executive Summary
Page 5 and 6: Executive Summary Overview (cont.)
Page 7 and 8: Selected Industry Trends E-Commerce
Page 9 and 10: Selected Industry Trends Difficulty
Page 11 and 12: Selected Industry Trends Comparison
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Page 19 and 20: Overview of Transaction Security Te
Page 21 and 22: Merchant Solutions Issuer Solutions
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Page 31 and 32: IV. CEO Interviews
Page 33 and 34: CEO Interviews Michael Keresman, Ca
Page 39 and 40: CEO Interviews Yaron Samid, BillGua
Page 41 and 42: CEO Interviews Nuno Sebastiao, Feed
Page 43 and 44: CEO Interviews Nuno Sebastiao, Feed
Page 45 and 46: CEO Interviews Reed Taussig, Threat
Page 51 and 52: V. Competitive Landscape
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Page 55 and 56: VI. Selected Company Profiles
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Selected Company Profiles Company P
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Financing and M&A Transactions Tran
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A. Singtel Acquires Trustwave for $
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Singtel Acquires Trustwave for $810
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Singtel Acquires Trustwave for $810
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Early Warning Acquires Authentify T
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Overview of FT Partners Strong Doma
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Overview of FT Partners Feedzai Rai
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Overview of FT Partners FT Partners
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Overview of FT Partners Selected FT
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Overview of FT Partners Platform of
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Transaction Security

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