PSD2 Compliance

EU's Payment Services Directive

According to the European Commission:

The [current] Payment Services Directive (PSD) was adopted in 2007. This legislation provides the legal foundation for an EU single market for payments, to establish safer and more innovative payment services across the EU. The objective is to make cross-border payments as easy, efficient and secure as 'national' payments within a Member State.

PSD2

Also according to the European Commission:

The Commission proposed to review the PSD to modernise it to take account of new types of payment services, such as payment initiation services ....

....

[PSD2's] main objectives are to:

• Contribute to a more integrated and efficient European payments market
• Improve the level playing field for payment service providers (including new players)
• Make payments safer and more secure
• Protect consumers
• Encourage lower prices for payments

....

To make electronic payments safer and more secure, PSD2 introduces enhanced security measures to be implemented by all payment service providers, including banks. The EBA will develop specific and objective security standards to that end.

PSD2 Security directives and regulations are written at a high level and the detailed implementation is being left to the industry. However, data security regulations related to PSD2 will almost certainly be subject to the same stringency as the General Data Protection Regulation (GDPR).

The inherent data-security challenge industry observers see in PSD2 is that of strengthening security to reduce fraud while not causing too much disruption to the end user experience.

Thales has a comprehensive set of solutions that can help organizations prepare for and comply with PSD2 across all areas where data needs to be protected -- at rest, in motion and in use.

Vormetric Transparent Encryption

Vormetric Transparent Encryption from Thales provides file and volume level data-at-rest encryption, secure key management and access controls required by regulation and compliance regimes.

Vormetric Tokenization with Dynamic Masking

Vormetric Tokenization with Dynamic Masking from Thales lets administrators establish policies to return an entire field tokenized or dynamically mask parts of a field. With the solution’s format-preserving tokenization capabilities, managers can restrict access to sensitive assets, yet, at the same time, format the protected data in a way that enables many users to do their jobs.

Vormetric Data Security Platform for User Access Control

Encryption falls short when defending data, if cyber criminals gain access to the tools for decrypting the data. The Vormetric Data Security Platform from Thales provides the following best practice safeguards:

• Separation of privileged access users and sensitive data
• Separation of administrative duties
• Granular privileged access controls

Vormetric Data Security Intelligence

Vormetric Data Security Intelligence from Thales provides another level of protection from malicious insiders, privileged users, APTs and other attacks that compromise data by delivering the access pattern information that can identify an incident in progress.

Thales High Speed Encryptor (HSE)

HSE physical and virtual appliances use strong hardware-based encryption technology to help secure data in motion for business-critical applications. The solution features traffic flow security capabilities that completely mask traffic patterns to prevent surreptitious traffic analysis. Thales High Speed Encryptor (HSE) secure data in motion with little to no impact on network performance and bandwidth. With this solution, businesses and government agencies can establish secure, affordable high-performance connectivity.

Hardware Security Modules (HSMs)

Designed specifically for payments applications, payShield 9000 from Thales is a proven hardware security module (HSM) that performs tasks such as PIN protection and validation, transaction processing, payment card issuance, and key management. The payShield 9000 design benefits from over 25 years of Thales experience with payment system security. It is a state-of-the-art solution that delivers an ideal combination of security and operational ease.