Keep sensitive data secure in the PSD2 environment

The data security requirements of PSD2 are still evolving and are expected to call for a suite of industry best-practice solutions combining better security with high user satisfaction levels.

Entrust nShield® HSMs can help organizations prepare for and comply with PSD2 by delivering cryptographic services as a shared network resource for distributed applications and virtual machines.

    Regulation

    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 modernize 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.

    Compliance

    Entrust nShield Hardware Security Modules (HSMs)

    The Entrust nShield Connect delivers cryptographic services as a shared network resource for distributed applications and virtual machines. This gives organizations a highly secure solution for establishing physical and logical controls for server-based systems. Fully supporting the nShieldSecurity World architecture, the nShield Connect HSM provides an ideal combination of high assurance and operational ease. The solution makes it easier for organizations to define and enforce security policies, such as access control and separation of duties, while automating burdensome and risk-prone administrative tasks including back-ups and compliance reporting.

    Resources

    Brochures: Entrust nShield HSM Family Brochure

    Entrust nShield HSMs provide a hardened, tamper-resistant environment for secure cryptographic processing, key generation and protection, encryption and more. Available in three FIPS 140-2 certified form factors, Entrust nShield HSMs support a variety of deployment scenarios.

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