12 August 2009 Company Announcements

 

RBS WorldPay and VeriFone working on card encryption at PoS

VeriFone and RBS WorldPay have agreed to work jointly towards marketing VeriFone's VeriShield Protect end-to-end solution for encrypting payment card data.

By encrypting the card number on swipe, right at the point of sale, RBS WorldPay merchants who choose the VeriShield Protect solution should be able to reduce risk according to the bank.

VeriFone's VeriShield Protect removes usable cardholder data from the merchant's POS applications, networks and servers, using AES-level encryption that preserves existing card track data formats so it works with retailers' existing payment infrastructure.

With end-to-end encryption, even in the event of a breach of the retailer's system, any stolen data would then be unusable. Because VeriShield Protect preserves the format of the card data there should be no need to redesign the POS applications to deal with a new data format.