Building on its rapidly expanding member base, four electronic payment companies have joined the Secure POS Vendor Alliance (SPVA), a non-profit business organization founded by Hypercom (NYSE: HYC), Ingenico S.A. (EURONEXT: ING) and VeriFone (NYSE: PAY).
The SPVA works to advance compliance of existing payment card security standards, protect cardholder information and defend merchants and acquirers against security breaches.
"Chase Paymentech is committed to providing the safest operating environment for our partners and customers," said Diane Donoghue, EVP of Chase Paymentech. "By joining the SPVA, we join other industry leaders to leverage opportunities to remain ahead of emerging security threats."
SPVA membership is open to all vendors that develop secure POS payment systems or have products or solutions that interact with secure POS payment devices such as retailers, acquirers and banks. Members of the SPVA deliver a unique experience with security guidelines, ensure best practice implementation and continue to evolve security enhancements and interoperability required to reduce fraud and lower risk for all participants in card payment transactions. These companies join existing members such as Heartland Payment and Atos Worldline who partnered with the organization early on.
"Our newest members represent the range of companies that work together to provide secure electronic transactions to businesses and consumers," said Steven Hughes, SPVA president. "Their membership signals the growing importance of cooperation among all the participants in the secure payment value chain."
New associate members that have signed up with the SPVA since July 2009 include:
Chase Paymentech, a subsidiary of JPMorgan Chase (JPMC), is a global leader in payment processing and merchant acquiring, authorizing financial transactions in more than 130 currencies. The company's proprietary platforms provide access to a wide variety of payment methods, such as credit cards, debit cards, prepaid stored value cards and electronic check processing. In 2008, Chase Paymentech processed more than 21.4 billion transactions with a value exceeding $713.9 billion, including an estimated half of global Internet transactions. The company also provides a full set of solutions aimed at accelerating cash flow and managing transaction data. On the Internet or at the point of sale, Chase Paymentech's unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to companies both large and small.
Mustang MicroSystems, Inc. provides cryptographic key management and injection services in retail stores or in service centers for retailers, POS systems vendors, and systems integrators. Mustang provides services for all phases of POS and payment system development including planning, integration and final installation. Mustang is an Authorized Repair Facility for Signature Capture and Payment Terminal manufacturers, offering and supporting terminal management and Emergency Replacement Service (ERS) programs as part of its One-Stop service approach. Mustang also provides a unique service for in-store TDES conversion utilizing a portable universal key loader.
Semtek Corporation has been a leader in magnetics technology since 1999, serving large public and private sector clients who require secure data capture components for their fixed-base and wireless devices. Since 2004, Semtek has been focused on resolving the security deficiencies of magnetic stripe based payment systems and is playing an increasingly central role in the development of end to end security architectures for merchants and payment processors.
Transaction Network Services is a leading global provider of data communications and interoperability solutions. Through its secure networks, it enables businesses, people and markets to connect, transact, and trade with each other. Founded in 1990, TNS has grown steadily and now provides services to over 28 countries across America, Europe and the Asia Pacific region, with its reach extending to many more. Each year TNS carries billions of transactions across its high-speed, PCI-certified data networks.