VeriFone Extends Encryption Technology to PumpPay

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VeriFone Extends Encryption Technology to PumpPay

GRAPEVINE, Texas -- VeriFone Holdings Inc. is extending its VeriShield Protect credit and debit card encryption technology to Secure PumpPay, its PCI-approved solution for upgrading fuel dispensers to accept electronic payments securely, the company stated at NACStech 2008, held here from May 5-7, 2008.

"VeriShield Protect and Secure PumpPAY product will enable VeriFoneretail petroleum partners to virtually eliminate the possibility of a data compromise across their corporate brands," Jeff Wakefield, VeriFone vice president of marketing for integrated systems, said in a statement. "VeriShield Protect will protect card transactions that originate in the store as well as at the petroleum forecourt where over half of petroleum retailer card transactions originate."

VeriShield Protect is designed to stop continuing efforts to gather unencrypted account holder data through merchant network, application and server breaches, according to the company. The system shields credit and debit account information from the moment the card is swiped until the data is received at a secure decryption appliance, the company stated.

VeriFone's Secure PumpPAY is the only PCI-approved solution that includes a PCI EPP (electronic PIN pad) keypad, secure magnetic stripe reader, Triple-DES encryption and the ability to cryptographically mask all customer account information at the card reader, VeriFone stated. The system also meets PCI requirements for retrofitted fuel dispensers by July 1, 2010, and adopted in all new fuel dispensers as of Jan. 1, 2009, the company stated.

VeriShield Protect is currently available on the MX800 Series platform, and will be available on the Secure PumpPAY and Vx solutions product lines later this year, the company stated.