What are the common encryption algorithms used in payment systems?
An example of an AI chatbot conversation about common encryption algorithms in payment systems.
What are the common encryption algorithms used in payment systems?
Common encryption algorithms in payment systems include AES, RSA, and Triple DES. They ensure secure transactions.
Can you explain how AES works in payment processing?
AES, or Advanced Encryption Standard, uses symmetric key encryption to secure data. It encrypts data in blocks of 128 bits.
What makes RSA different from AES?
RSA is an asymmetric encryption algorithm, meaning it uses a pair of keys (public and private), while AES uses a single key.
Are there any newer algorithms being adopted in payments?
Yes, algorithms like ChaCha20 and elliptic curve cryptography (ECC) are gaining popularity for their efficiency and security.
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