VeriFone Systems and First Data have announced the launch of the VeriFone edition of the First Data TransArmor solution for US multi-lane and petroleum merchants.
The TransArmor, VeriFone edition, is an end-to-end encryption and tokenization solution that is a result of a partnership between VeriFone and First Data to address retailers’ need for enhanced payment security.
The TransArmor, VeriFone edition, enables First Data customers using VeriFone’s Secure PumpPay and MX series of EMV and NFC-enabled devices to take advantage of a complete security solution combining VeriFone’s VeriShield encryption along with tokenization technology from RSA, the Security Division of EMC.
“Data breaches are a widespread problem with over 1.1 billion records compromised in the last 10 years and the average organizational cost estimated at USD5.4m,” said Paul Kleinschnitz, senior vice president, Cyber Security Solutions, First Data. “This partnership with VeriFone on the TransArmor solution illustrates our commitment to collaborate with industry experts to bring best-in-class security solutions to new markets such as petro.”
“Petroleum and convenience store retailers have been increasingly focused on bolstering payment security, especially in light of recent breaches in the headlines,” said Tom Robinson, president of Robinson Oil Corporation, which will roll out the TransArmor “As a result of First Data and VeriFone’s solution, we now have the means to enhance cardholder data protection long before the 2017 EMV deadlines take effect for transactions at gas pumps.”
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