Summary: Data - the bits and bytes that power the payments technology ecosystem. Since the early days of knucklebusters and magstripe cards, data has always been a key to enabling electronic payments. In the early days, data was used to authenticate transactions and track returns. Today, between eCommerce and integrated point of sale technology, more consumer data is generated, captured, and stored. While merchants need data to generate more sales, fraudsters are looking to steal that data. From complex, state sponsored cybercrime, to lone wolf hackers, the market for stolen data is expanding. Criminals thwarted by new security tools are quickly moving on to ever more complex fraud. On this episode of Transaction Trending, a conversation on data security, and what payments companies must do to protect consumer data from criminals. Our guest is Tom Wimsett, Executive Chairman of ControlScan. ControlScan is a managed security service provider and as chairman, Wimsett brings decades of leadership in the payments industry. Before heading up the ControlScan board, Wimsett founded, built and sold two merchant acquirers. Wimsett also served on the ETA board of Directors. He is an expert in data security and payments and he joins ETA CEO Jason Oxman to discuss how payments technology companies and their partners can keep critical data safe.
