Navigating Quantum Uncertainty in the Payments Industry: A Guide to NIST Recommendations and Post-Quantum Cryptography
The need for organisations to protect themselves against quantum threats to cybersecurity is becoming increasingly important as quantum-computing technology advances. Quantum computers have the potential to break many of the encryption techniques currently used to secure data, and this poses a significant risk to organisations in the payments industry. Understanding Quantum Threats in the Payments Industry While quantum computers are still in the early stages of development in terms of both hardware and software, it is anticipated that if development continues at its current pace, it will be a real threat to organisations five to ten years from now. While this may seem a long way off, the vulnerability of today’s payment infrastructure is greatly exposed to quantum supremacy, and it is imperative that financial institutions take steps now to protect themselves and their customers. “While ten years might seem very far in the future,” says Costas Valakas, Stanchion’s Senior [...]