16 July 2018
Visit www.gemalto.com

RBS WorldPay and VeriFone team on end-to-end encryption offering

11 August 2009  |  3547 views  |  0 Source: VeriFone

VeriFone Holdings (NYSE: PAY) today announced that RBS WorldPay, the fastest growing top ten payment processor in the US, has agreed to work jointly and expeditiously towards marketing VeriFone's VeriShield Protect end-to-end solution for encrypting payment card data.

RBS WorldPay is the first merchant acquirer to endorse a commercial end-to-end encryption solution. By encrypting the card number on swipe, right at the point of sale, RBS WorldPay merchants who choose the VeriShield Protect solution will be able to dramatically reduce both their own risk and that of their customers as well.

"RBS WorldPay merchants and prospects are telling us they want to significantly reduce the impact of PCI compliance on their business - and they want a solution their processor endorses," said Ian Stuttard, president and CEO of RBS WorldPay. "VeriShield Protect will easily integrate into multi-lane retailers' existing systems and networks."

VeriFone's VeriShield Protect eliminates usable cardholder data from the merchant's POS applications, networks and servers, using AES-level encryption that preserves existing card track data formats so it works transparently with retailers' existing payment infrastructure.

"RBS WorldPay is taking a leadership position in addressing merchant concerns with potential liability over data breaches and the complexity of complying with card issuer requirements," said Douglas Bergeron, VeriFone, CEO. "Using VeriShield Protect's true hardware-fortified end-to-end encryption, usable card data can be removed from the merchant environment, eliminating the leading source of compromise."

With end-to-end encryption, even in the event of a breach of the retailer's system, any stolen data would be unusable. Because VeriShield Protect preserves the format of the card data there is no need to redesign the POS applications to deal with a new data format. In addition to encrypting card data, VeriShield Protect monitors all systems in real time at the device level via VeriShield Secure Device Management Service (VSDMS), so if a breach occurred the retailer would be immediately alerted. In addition, data encryption keys can be managed remotely as part of the device management service.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit www.aciworldwide.comVisit info.nice.com

Top topics

Most viewed Most shared
Flux ready for take-off on Barclays Launchpad; scores trial with Costa CoffeeFlux ready for take-off on Barclays Launch...
10536 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9534 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8090 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8026 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7634 views comments | 7 tweets | 13 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY USA

Find your next job