21 February 2018
visit www.ebaday.com

Venezuela's Inversiones Platco taps Hypercom for encryption

20 April 2011  |  4512 views  |  0 Source: Hypercom

Hypercom Corporation (NYSE: HYC) today announced that Inversiones Platco C.A., the fastest growing electronic payment network in Venezuela, will immediately make available Hypercom's EFTSec point-to-point payment data encryption protection to member banks and more than 46,000 merchant customers.

EFTSec encrypts cardholder data during transaction processing, starting at the payment terminal and ending at a trusted point where the data is decrypted.

"EFTSec is the largest operational point-to-point encryption implementation globally and Inversiones Platco C.A. is to be applauded for employing the most advanced futureproof technology to prevent data theft," said Samia Bounaira, Managing Director, Mexico, Caribbean and Central America (MCCA), Hypercom Corporation.

Hypercom teamed with system integrator PandaID Soluciones, Hypercom's authorized distributor in Venezuela.

EFTSec is the industry standard for payment terminal initiated link encryption in Asia. EFTSec is used by major banks with combined assets of nearly US$200 billion, and is licensed to and implemented by several major terminal manufacturers in Asia. An estimated 3.4 million or more card payment transactions are protected every month in the five countries whose financial institutions have adopted EFTSec as their de facto point-to-point encryption standard.

Hypercom's EFTSec is easy to install and is activated by simply plugging it into an existing Hypercom network infrastructure without disruption to data flows. Additionally, it requires minimal operational or administrative overhead to run.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.swift.com/your-needs/instant-paymentsVisit https://www.capgemini.com

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10050 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9672 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8441 views comments | 13 tweets | 12 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7095 views comments | 8 tweets | 12 linkedin
hands typing furiouslyMaking Customer Experience Your Business
6792 views 0 | 7 tweets | 5 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job