How to Stop Payment Fraud with Encryption – Ruston Miles

PayPod: The Payments and Fintech Podcast

Episode Topic:

Ruston Miles of Bluefin joins PayPod to unravel the real story behind payment data security. From debunking myths around chip card protection to highlighting the need for encryption at the point of interaction, Ruston shares critical insights into why businesses must adopt P2P encryption and tokenization to stay ahead of evolving threats.

Lessons You’ll Learn:

How to distinguish fraud prevention from data security, the necessity of protecting data at the entry point, why chips don’t equal encryption, and how upcoming technologies like quantum computing and AI are reshaping the threat landscape.

About Our Guest:

Ruston Miles is the Founder and Chief Strategy Officer at Bluefin, a payment security company that pioneered PCI-validated point-to-point encryption. With decades of experience in cybersecurity, Ruston has been instrumental in setting encryption standards adopted by Visa, Mastercard, and global universities. He’s also a strong advocate for tokenization, quantum-resistant encryption, and secure digital wallets.

Topics Covered:

• The difference between fraud and data breaches
• How P2P encryption protects data before it can be stolen
• Why EMV chips give a false sense of security
• Storing tokens instead of real card numbers
• Security challenges in higher education and enterprise
• Quantum computing’s potential threat to public key encryption