Futurex Introduces CPoC 360 Service to Secure Contactless Payments Worldwide
BULVERDE, Texas, September 30, 2021 — Futurex is pleased to announce its CPoC 360 service, a technology platform to help organizations fulfill cryptographic requirements of the PCI Security Standards Council’s Contactless Payments on COTS (CPoC) standard for SoftPOS developers. The CPoC standard allows commercial off-the-shelf (COTS) devices such as smartphones or tablets to make contactless payment transactions without the need for additional hardware. Hosted in Futurex’s VirtuCrypt Cloud, the CPoC 360 service is designed to help anyone building SoftPOS applications get to market with less cost and in less time by meeting the standard’s range of data security requirements.
This standard accelerates the adoption of contactless payments by individuals and small businesses, while ensuring a high level of security. It provides large retailers with news ways of improving the customer payment experience, and is also expected to be widely adopted in developing economies.
Contactless Payments with CPoC: Low Cost; High Level of Security
Contactless payments extend the point of sale beyond the checkout counter. This is made possible with near-field communication (NFC) chips embedded in smartphones and tablets. Futurex’s CPoC 360 service, with its transaction processing functionality and high level of security, provides substantial advantages for merchants who need payment agility and scalability. Using Futurex’s CPoC 360 service, consumer data is protected at each stage of the transaction (including cloud payment transactions) by Futurex’s FIPS 140-2 Level 3 and PCI HSM validated hardware security modules (HSMs).
“Contactless payments, and the emergence of SoftPOS, will give merchants new tools for how they interact with customers, whether it’s queue busting at a department store during the holiday rush or making it easier for micro merchants to sell produce at a farmers’ market,” said Ryan Smith, Vice President of Global Business Development at Futurex. “With Futurex’s CPoC 360 service, we are delivering a truly integrated, compliant, and contactless payments service — secure, fast, and flexible — to help SoftPOS developers bring merchant solutions to market in less time, and to more easily meet compliance requirements.”
CPoC Represents the Next Big Opportunity for SoftPOS Applications
The entire Futurex CPoC 360 service is implemented on highly available cloud HSMs in Futurex’s VirtuCrypt cloud. It includes the tools which application developers need to achieve compliance with the CPoC standard. Most importantly, it ensures transactions are completed safely and securely.
The CPoC 360 service incorporates the following technologies:
- Device and code signing
- Remote key loading
- FIPS-validated entropy source
- Device attestation
- Transaction processing
- Redundant cloud hardware security modules (HSMs)
As a complete, cloud-based offering that meets the cryptographic and key management compliance requirements of the CPoC standard with a flexible API, CPoC 360 is designed to help anyone building SoftPOS applications get to market with less cost and in less time, with security at every point.
Futurex will unveil the Futurex CPoC 360 service at the Futurex Virtual Summit 2021, taking place today. Click here to register.
For more than 40 years, Futurex has been a trusted provider of hardened, enterprise-class data security solutions. More than 15,000 organizations worldwide, including financial services providers and corporate enterprises, have used Futurex’s innovative hardware security modules, key management servers, and enterprise-class cloud solutions to address their mission-critical systems, data security, and cryptographic needs. This includes the secure encryption, storage, transmission, and certification of sensitive data. For more information, please visit futurex.com.