The European Payments Council has issued a new version of its “Guidelines on cryptographic algorithms usage and key management”, updating its guidance to the European payment industry on the selection and use of cryptographic algorithms and related key management practices. The revision refreshes the overall review of referenced standards and algorithms and includes updates covering authenticated encryption and homomorphic encryption. It also updates guidance on cryptography in the context of quantum computing, noting that while the timing of cryptographically relevant quantum computers remains uncertain, organisations should already reassess their cryptographic strategies to remain secure in a post-quantum environment. The European Payments Council expects to review and update the document annually to reflect material developments in cryptology.
European Payments Council 2025-03-17
European Payments Council publishes revised cryptographic algorithms and key management guidelines with quantum computing updates
The European Payments Council has updated its "Guidelines on cryptographic algorithms usage and key management" for the European payment industry. The revision includes updates on authenticated and homomorphic encryption, and advises reassessment of cryptographic strategies in light of potential quantum computing impacts. The guidelines will be reviewed annually to incorporate developments in cryptology.