Using manual entry for cards is old news. Companies like Aircharge (Aircharge.com) have been doing it for 5+ years, and currently have serial swipers and printers that allow mobile card present transactions that offer better rates for companies. It also allows you to print out the reciept right there, add a tip, and print duplicates.
This still may be useful for simple person to person transactions.
I also work for a credit processing company. Card data needs to be stored for several years per guidelines, but there are strict rules about how to store it. No CVV2 data or full card stripe data may ever be stored. Card numbers kept must be encrypted using tripleDES or better algorithm with rediculously hard key management. Machines that store the data have stringent rules about connectivity, port limiting, etc. Once all that is in place, Visa auditors will pound the hell out of it to test it and make sure it is up to specs.
With all the rules in place, I don't really worry about security breaches anymore. Even if a hacker broke through the ton of security around the boxes and they got the data, it would be encrypted beyond usability. Not even an employee with intimate knowledge of the system could not break in.
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Using manual entry for cards is old news. Companies like Aircharge (Aircharge.com) have been doing it for 5+ years, and currently have serial swipers and printers that allow mobile card present transactions that offer better rates for companies. It also allows you to print out the reciept right there, add a tip, and print duplicates. This still may be useful for simple person to person transactions.
I also work for a credit processing company. Card data needs to be stored for several years per guidelines, but there are strict rules about how to store it. No CVV2 data or full card stripe data may ever be stored. Card numbers kept must be encrypted using tripleDES or better algorithm with rediculously hard key management. Machines that store the data have stringent rules about connectivity, port limiting, etc. Once all that is in place, Visa auditors will pound the hell out of it to test it and make sure it is up to specs. With all the rules in place, I don't really worry about security breaches anymore. Even if a hacker broke through the ton of security around the boxes and they got the data, it would be encrypted beyond usability. Not even an employee with intimate knowledge of the system could not break in.