We’re really excited about a recent case study that was just published by the PCI Security Standards Council, called “Validated Point-to-Point Encryption (P2PE) Solution.”
It’s a big deal to us because we’re happy to be featured, but the even bigger deal is what kind of case this makes for the importance and necessity of such payment security solutions, particularly for higher education institutions.
The case study highlights the payments landscape of Northwestern University and how they’ve come to streamline and better protect each and every one of the credit card transactions they accept, throughout all of their sales platforms. The University accepts payments from students, faculty, staff and visitors from 50 different campus locations.
Over the years, they’ve kept an eye on the devastating breaches experienced by institutions of all sizes and it’s pushed them to take a proactive stance to protect themselves. According to the 2016 Ponemon Data Breach Study, the average total cost of a data breach is $4 million dollars. We can probably assume a big bill like that is not what students want to be covering when handing over their tuition payments.
Northwestern has an authentic appreciation for the responsibility to protect the data and sensitive information of its constituents. By using our PCI-validated P2PE solution, which is part of our CardSecure offering, the University is able to reduce their PCI audit scope, which minimizes the time and money spent on managing their compliance. That’s because for each time a credit card is swiped or dipped, the information associated with that card is encrypted from its point of entry through the full lifecycle of the transaction.
Proving themselves a leader in the higher education sector, dedicated to aggressively keeping their campus data protected, we’re impressed with Northwestern’s approach and look forward to guarding their transactions for years to come.
You can find the PCI SSC-published case study here.
To learn more about our CardSecure solution, visit cardconnect.com/cardsecure.