White House Cybersecurity Summit Tackles the Future of Data Protection and Secure Payments

In line with recent hacks affecting businesses nationwide, the White House Cybersecurity Summit could help the government gather fresh insights on improving digital security.

Stephen W. Orfei, General Manager, PCI Security Standards Council, said, “Today’s productive discussion kicks off a year that will be the most transformative year in our industry’s history.”

The one-day event at Stanford University includes a keynote address by President Barack Obama. Panel discussions will be held to shine light on the implementation of new cybersecurity standards and practices.

Many expect encryption to be an essential but highly controversial topic. Obama’s administration members expressed their support for better smartphone encryption features in 2014, which received opposing views from the FBI and Department of Justice.

When it comes to payments, EMV technology will likely be praised and reinforced as the standard for POS security. Though as Orfei clarified, businesses should have more than one type of technology or protocol in place to minimize breaches.

“We simply must change the casual mindset that too many organizations have when it comes to data security protection. The guiding principle of making cybersecurity a 24/7 priority can serve as an example for both the public and private sector and highlights the need for a multi layered approach to data security,” highlighted Orfei.

The Retail Industry Leaders Association (RILA) will be present at the summit, along with other leading retail and manufacturing giants such as Apple, QVC, and Walgreens.

“President Obama’s commitment to these important issues, threat information sharing and payments security, is welcomed by retailers and we look forward to continuing to collaborate with the government on ways to help ensure retailers have the necessary partners and tools available to them in order to mitigate cyber threats,” mentioned Sandy Kennedy, President of RILA.