The P2PE Standard Covers:

The P2PE (Point-to-Point Encryption) Standard specifically focuses on the encryption processes involved in securing cardholder data during transactions. This standard encompasses requirements for encryption, decryption, and key management specifically tailored for point-to-point encryption solutions. This is crucial because the main goal of P2PE is to protect cardholder information from being compromised during processing, ensuring that data remains secure from the point it is captured until it reaches a secure decryption point.

The other options do not accurately represent the scope of the P2PE Standard. The first option's mention of basic security requirements is too broad and does not pinpoint the specialized focus that P2PE has on encryption for payment transactions. The third option incorrectly limits the standard to only addressing the storage of cardholder data, whereas P2PE is heavily focused on the secure transmission of data. Lastly, the fourth option, which discusses non-encrypted transaction methods, is outside the scope of P2PE as it deals specifically with enhancing the security of encrypted transactions rather than addressing methods that do not involve encryption. Thus, the correct answer highlights the comprehensive focus on encryption and key management vital to protecting payment card transactions.