Yes, but I can't pass anything larger than a $10 bill without the clerk writing on it with their special pen that detects fraudulent currency. So...all payment forms have their detractors. Chris Souther
Good question David. We have been PCI compliant for a while now. VeriFone's encryption solution, VeriShield Total Protect, comprises two solutions (encryption and tokenization) to secure cardholder data. At the point of capture (swipe, scan etc.) card-data is encrypted so that unencrypted data never traverse either the POS or the merchant's network. It stays encrypted (and PCI compliant) until it is decrypted, typically at the processor. For those merchants that want to store transaction data, for loyalty purposes, chargebacks, etc. our tokenization converts card data into unusable and completely different. So even if they store it, they are still within PCI compliance.
The PCI assessor, CoalFire, assessed our PAYware Mobile product, using our encryption and certified that it is PCI compliant. You can read the Press Release on it here: http://global.verifone.com/company/press-room/press-releases/2011/assessor-validates-verifone%E2%80%99s-payware-mobile-enterprise-compliant-with-payment-security-requirements
http://www.verifone.com/company/resources/white-papers Chris Souther
We also believe cash will be around for a very long time. Cash is always PCI complaint. Great blog post Chris! APG Cash Drawer