VeriFone forms security business unit

Source: VeriFone

VeriFone Holdings (NYSE: PAY) today announced today the formation of its Global Security Solutions Business Unit, focused on delivering innovative security solutions, including VeriShield Protect end-to-end encryption, to protect cardholder data throughout merchant and processor systems.

The business will focus on sales, consulting and implementation of VeriShield Protect and VeriShield Retain, as well as future initiatives aimed at helping retailers and processors protect consumer data and reducing the complexities and costs of PCI compliance. Jeff Wakefield, formerly vice president of marketing for VeriFone's Integrated Systems business, was named general manager and vice president of the new business unit.

"To effectively protect cardholder data against current and future threats, complete security solutions must span both merchant and processor systems," said VeriFone CEO Doug Bergeron. "The global focus of this business unit will insure that all our customers are able to take advantage of these solutions throughout their entire operations."

Wakefield has 30 years of experience in senior marketing and general manager roles for retail system and payment solutions companies. He currently serves as a VeriFone representative on the PCI Security Standards Council Board of Advisors and has chaired the SPVA's Security Threat Analysis and Intelligence Working Group.

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