Heartland Payment Systems (NYSE: HPY), one of the nation's largest payments processors, has selected Voltage Security as a partner to develop end-to-end encryption (E3) software specifically suited to payments processing.
Voltage is a global leader in information encryption.
"Heartland is developing a complete end-to-end encryption solution designed to protect cardholder data at all stages of a transaction - from card swipe through delivery to the card brands," said Bob Carr, Heartland's chairman and chief executive officer. "Together with Voltage, we are developing a comprehensive solution that currently does not exist."
Heartland's new E3 solution will significantly enhance the security of payment card information throughout the processing lifecycle. The Voltage SecureDataTM product line, based on its Format-Preserving EncryptionTM and Identity-Based EncryptionTM approaches, will power the software component of Heartland's E3 solution. Heartland also employs Voltage SecureMailTM and Voltage SecureFileTM to protect personal information throughout its corporate and extended business network.
"Heartland's vision for E3 sets a new security standard for the payments industry," said Sathvik Krishnamurthy, president and chief executive officer of Voltage. "With Heartland E3, merchants will be able to significantly reduce their PCI audit scope and compliance costs, and because data is not flowing in the clear, they will be able to dramatically reduce their risks of data breaches."
Heartland will launch its E3 pilot in Q3 and will continue to roll out additional features and products through 2010.