ACI Worldwide (NASDAQ: ACIW), a leading international provider of electronic payment and banking systems, today announced that major payment device vendors including VeriFone, Ingenico and Equinox support its Point to Point Encryption (P2PE) solutions.
P2PE is an emerging encryption technique in the payments industry that protects sensitive cardholder data in transit—as it is transmitted from a merchant's store to its acquiring bank. ACI's Point to Point Encryption solutions are used with the company's leading retailer payments solution, providing a more secure path for consumer transactions.
Data breaches not only result in data loss, but significant and lengthy damage in terms of both brand and customer confidence. As such, many of the world's leading merchant retailers are deploying ACI's P2PE solutions to protect cardholder data while also reducing the scope and expense of PCI compliance.
VeriFone, Ingenico and Equinox are among the industry's leading payment device vendors that support ACI P2PE. They provide secure electronic payment solutions that enable banks and merchants to manage their diverse payment activities across all sales channels—from in-store to online to mobile.
"Consumer trust is more important now than ever before, and merchants are under increased pressure to ensure protection of their cardholder data," said Jennifer Miles, President, VeriFone Americas. "Having a comprehensive data protection strategy is key, and leveraging point to point encryption supported by advanced payment devices is critical to gaining consumer trust. We applaud ACI's focus on securing track data via their secure Triple DES encryption, as well as their ongoing support of our own VeriShield Protect format preserving encryption already supported by most major North American processors."
"This last year in particular, we've seen that compromises in protecting cardholder data have not only impacted retailers' operations, but also perceptions of their brands," said Rob Cameron, Vice President and General Manager, ACI Worldwide. "Because of this, there is a much greater need for and understanding of secure and turnkey point to point encryption. So, we're proud that our P2PE solutions are supported by the major payment device vendors. Together, we're providing payments peace of mind."