Heartland Payment Systems Inc. continues to promote the idea of end-to-end encryption within the payments industry's transaction processing systems.
"There's no silver bullet, but end-to-end encryption is the best possible" solution to data breaches, Robert Carr, the company's chief executive, said Sunday during a keynote speech at the ATM Debit & Prepaid Forum hosted by SourceMedia in Las Vegas. "The effects of a breach don't stop a few weeks after it's identified — the effects continue."
Carr also said in an interview following the speech that "there are current and realistic opportunities to improve security and there has been a lot of cooperation among industry stakeholders."
He said that two of the major card brands are backing Heartland's encryption efforts, though he would not identify them. "The two brands that support us have been very receptive and we believe that as soon as we have our product live, we'll have the cooperation of the other brands," Carr said. SourceMedia publishes American Banker.