Securing Payments Against Quantum Threats

Quantum computing, though still in its early stages, holds both transformative potential for the payments industry while posing a serious threat to current cryptographic standards that secure payments and payment networks. The potential for widely used cryptographic methods to be easily compromised underscores the urgent need for quantum-safe cryptography which involves developing algorithms resistant to quantum attacks. This transition is crucial to maintaining the integrity of the ACH Network, and requires not only updating cryptographic methods but also revising operational rules strengthening risk management and ensuring regulatory compliance. In this session, speakers explore strategies and case studies for adopting quantum-safe cryptography. Panelists will also review the work currently being done by the Payments Innovation Alliance’s Quantum Payments Project Team.