Payment Processing in the Cloud Has Just Gotten Real
Financial services organizations require a cryptographic infrastructure to handle every single financial process. Organizations depend on hardware security modules (HSMs) to manage financial acquiring, issuing, and Point-to-Point Encryption. Everything from PIN translation and verification to CVV generation and validation, from EMV validation to message authentication code generation and verification to key management, from issuing payment cards to provisioning mobile payment tokens. Yet, many financial services organizations have been tentative when it comes to payment processing in the cloud.
“Only in the last few years have the bulk of these [financial services] companies started to realize they need to refashion their tech infrastructure and move at least some tasks to the cloud. They expect the economic shocks of the pandemic to accelerate that shift, not only because financial service companies will serve as critical infrastructure for the world economy, but because younger companies built around modern technology are poised to take their business,” according to Tom Krazit, in the Protocol article, Wall Street spent years watching the cloud drift by. Then came coronavirus.
Do HSMs and the public cloud intercept? Do they deliver the high availability and streamlined functions required to perform and process critical payment functions in the cloud? Yes! We’re proud to announce the industry’s first financial cloud HSM with native AWS integration: Futurex’s next-generation VirtuCrypt financial cloud HSM service. For more information, visit Futurex.com/CloudHSM.
At Futurex, we’ve been a trusted provider of hardened, enterprise-class data security solutions for more than 40 years. When it comes to cryptographic needs and mission-critical security, we’ve been working hand-in-hand with the largest financial services organizations worldwide. And for the past five years, we have been delivering hardened enterprise security cloud offerings.
Since 2015, VirtuCrypt financial cloud HSMs have provided services for organizations of all sizes. With five data centers worldwide and certifications including PCI DSS, PCI PIN, PCI P2PE, and TR-39, VirtuCrypt services are a platform-agnostic way for organizations to deploy cryptographic services across a range of financial use cases and architectures.
“We’re proud to announce a range of groundbreaking enhancements to our VirtuCrypt financial cloud HSM – the industry’s first financial cloud HSM with native AWS integration – building on years of cloud HSM experience and delivering on our commitment to meeting the security, robustness, scalability, and compliance needs of financial services organizations worldwide.” said Ryan Smith, Vice President, Global Business Development at Futurex.
Futurex’s Chief Solutions Architect David Close states that Futurex’s next-generation VirtuCrypt financial cloud HSM service features:
- Core-to-cloud architecture and automation
- Snapshot technology and cloud HSM management
- Cryptoverse & CryptoTunnel security fabric
- Crypto infrastructure intelligence and orchestrationNative omni-cloud integration
Financial services organizations can use VirtuCrypt services to quickly provision enterprise-grade, highly available, PCI HSM and FIPS 140-2 Level 3-validated cloud HSMs while leveraging their existing AWS relationship. To set up services, customers simply search for VirtuCrypt financial cloud HSMs for financial acquiring or financial issuing directly in the AWS Marketplace and set up a contract from there, eliminating a layer of operational complexity.
For more information, please visit Futurex.com/CloudHSM. Details of the VirtuCrypt next-generation financial cloud HSM, along with feature demonstrations, was delivered at the Futurex Virtual Summit 2020 on June 25, 2020. If you missed it, view the session on demand.