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  • November 12, 2020

PAAY and Bluefin Partner on Remote Commerce Security

Bluefin, a provider of encryption and tokenization payment and data security, and PAAY, a provider of consumer authentication, have released a security application that protects against hackers and online fraud, while providing regulatory compliance.

The solution set combines 3DS, hardware-based encryption, and vaultless tokenization to provide merchants a liability shift, strong customer authentication, data confidentiality, and compliance with the General Data Protection Regulation (GDPR), California Consumer Privacy Act, and the Payment Services Directive 2 (PSD2).

"Violation of these regulations and acts carry enormous penalties, ranging up to 4 percent of the business' annual global revenue or $20 million euros," said Adam Gluck, chief technology officer at PAAY, in a statement. "There have been companies fined upwards of $250 million under GDPR, and merchants need a solution to conduct business in this environment. The PAAY and Bluefin partnership protects the livelihood of ecommerce merchants on a global scale. The combined solution set empowers merchants to say ahead of the curve and conduct business with confidence knowing their data is secure and their bottom line isn't suffering because of unnecessary expenses related to online fraud."

"The combined Bluefin/PAAY solution set is as close as we can get to a silver bullet in payment security for ecommerce transactions," said Ruston Miles, founder of Bluefin, in a statement. "PAAY provides strong authentication at the front door and Bluefin encrypts and tokenizes the data at the point of interaction on the web. Most online merchants rely solely on SSL/TLS to encrypt the data being sent from their websites. This leaves payment data vulnerable while inside the web page before it is transmitted. Hackers have exposed this vulnerability extensively over the years."

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