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Thales and Prime Factors Join Forces for Enhanced Bank Card Security

In an effort to bolster the security infrastructure of payment applications, Prime Factors and Thales have entered into a collaboration to offer a robust banking card security system (BCSS). This innovative solution is set to streamline how businesses secure their payment processes, offering a reliable software solution aimed at improving customer trust and compliance.

Todd Moore, the Vice President of Data Security Products at Thales, emphasized the need for effective tools that aid businesses in implementing secure payment measures rapidly. He stated, "We aim to equip our customers with tools for fast and easy payment security implementation." The BCSS not only simplifies the organizational aspects of securing customer payment applications but is also designed to be integrated seamlessly with Thales' payShield HSM (Hardware Security Module), optimizing the security infrastructure of payment processing.

The BCSS provides developers with a pre-configured security feature set, drastically reducing the time required to build secure payment applications. Key functionalities of the BCSS include:

• - Stable Payment Key Management: Offers secure storage and management of payment keys.
• - Detailed Access Controls: Enforces role-based permissions and intricate access auditing mechanisms.
• - Audit Logging and Reporting: Provides comprehensive logging capabilities to ensure traceability and compliance.
• - High-Level APIs: Facilitates quick integration with Thales payShield HSM through pre-configured workflows.
• - Built-In Load Balancing: Supports cloud, on-premises, and hybrid deployment models effectively.

The introduction of the BCSS is particularly noteworthy given the increasing migration of businesses to cloud-based solutions. James Torjussen, the product manager for payShield at Thales, remarked on the necessity of such a system in facilitating smoother cloud transitions. He mentioned that BCSS’s load balancing capabilities allow clients to manage migrations with an ideal level of flexibility, enabling them to shift their capacities or specific functions gradually, avoiding the complexities of extensive application redevelopments.

Jose Diaz, Vice President of Products and Services at Prime Factors, added that the BCSS has proven its reliability in security audits for over a decade. It is tailored for businesses crafting and managing their own payment applications, aiming to expedite revenue generation while mitigating risks and lowering implementation costs over time. This latest development in their long-standing collaboration, spanning over 30 years, reinforces Thales’ commitment to simplifying payment security infrastructure for its business partners.

In summary, the partnership between Thales and Prime Factors represents a significant advancement in payment security solutions, offering innovative tools that enhance the safety and efficiency of payment application development. Organizations interested in learning more about the technical specifications and capabilities of the BCSS can find further insights on their website.

With security at the forefront of financial technology, the emergence of solutions like the BCSS highlights the pivotal role that collaborations between technology leaders play in shaping a more secure payment landscape.