VeriFone Systems, Inc. (NYSE: PAY), today announced that its Payments as a Service (PaaS) platform for the UK market-PAYware Ocius-has been certified by the PCI Security Standards Council (SSC) as an approved Point-to-Point Encryption (P2PE) solution.
PCI SSC certification validates PAYware Ocius' ability to help merchants enhance security and reduce the scope of PCI Data Security Standard (DSS) management through P2PE of cardholder data.
"VeriFone has reached a major milestone in achieving PCI P2PE compliance for PAYware Ocius. The investment in time and effort that VeriFone has made to achieve this milestone is commendable and will enable their clients to focus on building their businesses, safe in the knowledge that they have a secure, PCI compliant solution to process their card payments. We are proud to have supported VeriFone through this certification process," said Andrew Henwood, CEO, Foregenix.
P2PE is crucial for merchants in today's retail landscape, as it encrypts cardholder data collected at the point of sale and keeps it encrypted until it is safely inside VeriFone's PCI compliant decryption environment. This means cardholder data remains secure across the retailer's POS terminals, networks and systems. Using a P2PE validated managed payments service:
- Significantly reduces the scope of PCI compliance
- Makes security management more straightforward and less costly for merchants to maintain
- Delivers greater protection of cardholder data
- Helps protect merchant brands and reputations
PCI SSC certification represents a key milestone for VeriFone's drive to provide the UK market with a managed payments platform that is secured by P2PE. Certification of PAYware Ocius was based on 888 rigorous standards required by the PCI SSC across 6 domains, including the ability to securely ship and track terminals from VeriFone facilities to the client locations to reduce the possibility of tampering.
"The VeriFone brand stands for industrial strength security and this has been our number one priority since our inception 33 years ago," said June Felix, President of Europe for VeriFone. "PAYware Ocius' PCI SSC certification allows us to extend our multilalayered approach to security to the UK market, where we can help our clients simplify compliance management and protect their customers as well as their brands and reputations from cybercriminals."