VeriFone and RSA to Deliver End-to-End Encryption and Tokenization Solutions
SAN JOSE, Calif. -- VeriFone Systems Inc. and RSA, The Security Division of EMC are partnering to market their end-to-end encryption and tokenization solutions as an integrated payment security offering to be branded VeriShield Total Protect, the companies reported.
"Until today, merchants have had to navigate among a variety of technical offerings in order to protect customers and meet compliance requirements for credit card transactions," VeriFone CEO Douglas G. Bergeron said in a released statement. "RSA and VeriFone are combining to solve this problem and let merchants focus on meeting customer needs, not mastering security protocols."
When implemented, VeriShield Total Protect will use industry-proven security technology and leverage electronic payment systems deployed in the majority of merchants worldwide to provide a consistent, consolidated approach to protecting payment card data from end-to-end, both pre- and post-authorization, according to the companies.
Processors will market the solution to merchants as a means to reduce cost and effort associated with PCI compliance, gain new abilities to safely use transaction data to support customer analytics and drastically reduce their overall risk profile, the companies stated. VeriFone's VeriShield Hidden Encryption (VHE) preserves both data format and data field structure, so end-to-end encryption can be implemented without major retrofit with existing retailer POS systems. Elements of RSA's SafeProxy™ architecture tokenize card data for safe storage and use by merchants post-authorization.
"Our joint solution will ensure that payment processors don't have to make compromises and can deliver a service that confidently answers their customers data security concerns, RSA President Art Coviello said. "By delivering this service, we will enable processors to focus on innovating to serve their merchant customer base, not on becoming security experts."