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To Encrypt or Not To Encrypt?

So are credit card processing companies encrypting their identification data? Sort of:
Visa U.S.A. Inc. and MasterCard International Inc. will release new security rules in the next 30 to 60 days for all organizations that handle credit card data, a Visa official said this week.

The rules will be the first major updates to the one-year-old Payment Card Industry (PCI) data security standard, which analysts said is slowly but surely being adopted.

Visa, MasterCard to unveil new security rules The updated PCI standard will cover Web apps, third-party controls, Jaikumar Vijayan, ComputerWorld 7 July 2006

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