Building trust in the payments ecosystem
As the world continues to move toward cashless and digital payment models, consumers expect their accounts, money and personal information to be protected. It’s a level of confidence that should be proven at every stage of the payment process and continually evaluated to be secure. Payment innovation in an interconnected, digital world is complex, which can lead to risks and vulnerabilities.
Due to bad actors, the payment ecosystem is one of the first to have developed a structured and robust approach in cybersecurity. Over the years, multiple ways of paying digitally have emerged. From debit and credit cards and dedicated POS terminals, countries around the world have rapidly evolved towards making or accepting payment with a smart phone, using a digital wallet, a QR code, or an app. Today, everyday consumer and industrial smart devices are increasingly incorporating a payment functionality. Smart appliances, smart cars, warehouse management devices are a few examples of devices that incorporate payment functionality. This means that securing them includes securing their payment functionality.
UL has many global accredited cybersecurity laboratories equipped to test and certify financial transaction equipment, application integration, and value chain processes. Our laboratory-based and remote engineers evaluate conformance to current payment processing schemes and related mandatory standards. They can also provide preliminary gap and vulnerability assessment and/or provide customized training depending on specific client needs.
We serve the entire smart payment ecosystem including commercial banking, merchants and retailers, mobile networks and fintech providers.
Why UL for payment security
UL offers a range of payment security capabilities. We want to help you reduce technical and regulatory complexity, access testing solutions and mitigate risks in the payment industry. Our related payment security and technology capabilities include:
Acquiring bank payment security: Acquiring banks and payment processors rely on UL to help them grow merchant accounts and transaction volumes, keep pace with new payment technologies and reduce technical and regulatory complexity.
Terminal payment security: We help to provide solutions that help bring interoperable, reliable and secure devices into the market.
Mobile payment security: We possess expert guidance and testing solutions for applications, mobile devices, SIM/UICC, eSIM and subscription managers in the M2M, IoT and consumer domains.
Brand and scheme payment security: We help the payments industry mitigate risk, meet requirements and achieve current business goals, while helping you future-proof by strategically leveraging emerging technologies and industry trends.
Card manufacturer payment security: UL helps card manufacturers to navigate security and compliance challenges. We provide implementation planning, testing and certification services across multiple phases of your product development.
IoT device security: We empower trust in the marketplace by helping improve the security of IoT devices and systems through our full suite of cybersecurity solutions.
Merchant payment security: UL’s security solutions for merchant payments are essential for retailers who are building and expanding payments acceptance to provide a seamless shopping experience.