New Delhi: EzSwype has implemented Futurex’s VirtuCrypt Cloud Payment Hardware Security Module (HSM) to enhance PIN security and improve operational efficiency in its payment processing systems.
The payment solutions provider has transitioned from on-premises HSM infrastructure to a cloud-based platform, enabling secure PIN generation, management, and validation. This move addresses the need for scalability, regulatory compliance, and secure handling of sensitive payment data, while meeting standards such as PCI HSM and FIPS 140-2 Level 3.
According to EzSwype, the decision followed an evaluation of multiple providers, with Futurex’s solution selected for its ability to deliver tamper-resistant infrastructure, advanced encryption capabilities, and robust key management. The deployment allows the company to handle growing transaction volumes without the physical limitations of traditional systems.
The shift also reduces capital expenditure and ongoing maintenance costs associated with on-premises hardware, allowing EzSwype to allocate resources toward strategic growth. Additionally, the cloud-based model enables faster deployment, supporting quicker time-to-market for new services.
Industry experts note that such migrations are part of a wider trend in the payments sector, as financial technology providers increasingly adopt cloud-based HSMs to improve agility, reduce operational complexity, and adapt to evolving security requirements.
Pulkit Gupta, CEO of EzSwype, said the deployment addressed the firm’s complete PCI PIN requirements, including PIN block translation and remote key injection for POS terminals. Futurex Vice President – South Asia, Ruchin Kumar, stated the collaboration supports EzSwype’s security and scalability objectives.
The integration positions EzSwype to manage higher transaction volumes while maintaining strict compliance and security standards.
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