First Data and VeriFone Collaborate on Data Security Solution

by Mercator Advisory Group 0

First Data has teamed up with Point-of-Sale provider VeriFone Systems to begin rolling out their TransArmor encryption solution to POS devices and systems. TransArmor was developed in partnership with RSA. This “VeriFone edition” of First Data’s TransArmor will be deployed beginning in 2011 in VeriFone’s MX 800 series, Secure PumpPay, and Ruby.

The new TransArmor, VeriFone edition, protects consumer payment card data ‘in- flight’ from the moment it enters the merchant environment, utilizing VeriFone’s hardware fortified and format preserving encryption technology. To secure data ‘at rest,’ the new solution has been engineered with RSA SafeProxy architecture that replaces card data with a token number that preserves the value of card data for merchant business operations but removes value for fraudsters.

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http://www.marketwatch.com/story/first-data-and-verifone-collaborate-on-data-security-solution-2010-10-28?reflink=MW_news_stmp