Mastering the complexity of payment-related cryptographic key management
Key management encompasses the creation, exchange, storage, deletion, and refreshing of keys, as well as controlling users’ access to them. Securely managing cryptographic keys is often the most challenging part of encryption. Any loss or compromise of any encryption key invalidates an organization’s data security protocols.
In the realm of payment-related activities, organizations face a myriad of stringent security requirements and evolving protocols. Particularly in the financial sector, where regulatory standards are exceptionally high, ensuring the security of customer data demands intensive methodologies and specialized tools.
To meet these required standards, organizations rely on Payment Hardware Security Modules (HSMs) to perform mathematically intensive key value generation. Additionally, a Key Manager is needed for securely managing and storing all payment-related keys, providing the necessary infrastructure to uphold security protocols and regulatory compliance.
