IEEE recently implemented a new security feature to help safeguard credit card information from the risk of stolen identity or unauthorized access. This is in response to the many security breaches that have taken place at companies like Home Depot and Target, says Eugene Khusid, IEEE’s business requirements manager, in Piscataway, N.J.
With the new feature, IEEE no longer stores credit card numbers in its own systems. Instead, a third-party vendor that specializes in securing financial data and processing credit card charges now stores the numbers. But instead of relying on just the actual credit card number, the vendor creates so-called “tokens”—randomly generated numbers associated with each card. “Tokens cannot be reverse engineered to the original credit card numbers,” Khusid explains.
When a person makes a purchase with a credit card, IEEE submits the order to the third-party security vendor using the token number. The vendor then finds the associated card in its system, processes the charge, and sends IEEE a confirmation of payment.
“The primary benefit to members and customers is enhanced security,” Khusid says. From the users’ perspective, the payment process remains the same and no changes need be made to their IEEE profiles.
The use of tokens has become standard practice to improve credit card security over the past few years, and is one of the best ways to secure payment information online, according to Khusid.
But because of the security enhancement, those making a payment for the first time since its installation may see a charge of US $0.00 on their credit card statement. No action is required.
“IEEE will stay abreast of the best security practices available and will implement them to protect its members and customers,” Khusid says.
To learn more about the new system, visit the IEEE Support Center website.