First Data Corporation, a global leader in electronic commerce and payment processing, today announced that it will provide ID Tech, a leading supplier of point-of-sale (POS) devices, with its TransArmor data encryption and tokenization technology.
Select ID TECH SecureMag swipe readers will incorporate the First Data TransArmor solution, which will equip each device with tokenization and end-to-end encryption technology that delivers a randomly assigned number ("token") representing a card used in a transaction to merchants.
"By adding ID TECH devices to our portfolio of TransArmor-enabled POS solutions, we are helping to further protect consumers and merchants from experiencing damaging and potentially catastrophic data security incidents," said Tim Horton, vice president of Merchant Product Management, First Data. "With more than 300,000 merchants securely processing transactions with the TransArmor solution, it is the most widely deployed payment security service in the industry."
SecureMag is a 100mm magnetic stripe card reader that offers retailers a complete and reliable security solution. For increased data protection, SecureMag has several operational security levels allowing the user to select the security profile needed for the application. TransArmor is another layer of security for SecureMag that will further enhance its ability to prevent and combat fraud at the POS.
"ID TECH is very excited to partner with First Data and embed the TransArmor encryption technology into our encrypted MagStripe readers," said George Jiang, vice president of Engineering, ID TECH. "Aligning our products with the leading encryption technology from First Data will be a big benefit to our channels and partners. We now have an end-to-end solution with one of the most respected organizations in the payment industry."
Engineered with the RSA SafeProxy architecture, the TransArmor solution is designed to protect consumer payment card data from the moment it enters the merchant environment, and replaces card numbers with a token number that preserves the value of card data for merchant business operations but removes the value to fraudsters.
Availability of the TransArmor-equipped S SecureMag devices is anticipated later this year for any of ID TECH's independent software vendors. It is anticipated that additional ID TECH devices will incorporate the TransArmor solution in the future.