Hypercom, First Data Team to Step up Payment Industry's Attack on Card Data Fraud
High security electronic payment and digital transactions solutions provider Hypercom Corporation and First Data Corporation, a global leader in electronic commerce and payment processing, recently announced that First Data has approved Hypercom as an encrypting service organization for remote key injection and that Hypercom's HyperSafe Remote Key System will be available through First Data's TASQ Technology. The companies also announced that Hypercom is teaming with First Data to implement the First Data TransArmor solution as a significant advance in the payment industry's attack on card data fraud.
Hypercom's Remote Key System (HRKS) is a standards-based remote key injection product that allows retailers to quickly and securely initiate on-site, in-store payment terminal key injection at the point of sale. Available through First Data's TASQ Technology, the system offers a fast and highly secure alternative to the industry's traditional secure room key injection process.
Hypercom's HyperSafe Remote Key System was awarded the globally prestigious Sesame Award at Cartes 2009. The Sesame Awards represent an unchallenged seal of approval in innovation and are regarded as the global standard for card manufacturers and related industries.
In another key step in the alliance being formulated by the two payment security industry leaders, Hypercom intends to market the First Data TransArmor solution and First Data intends to incorporate Hypercom's HyperSafe secure suite of security products as an added layer of protection for merchants.Õ
The TransArmor solution addresses the root cause of merchant data security issues by removing payment card data from the merchant environment as part of processing the transaction, significantly reducing risk and the scope of PCI compliance efforts. The solution leverages the RSA SafeProxy architecture, a powerful combination of asymmetric encryption, tokenization and key management engineered to provide the benefit of end-to-end protection and eliminate on-site cardholder data storage for merchants. Unique features of the token make it possible for merchants to continue to handle key business functions such as returns, recurring billing, loyalty programs and other analysis, without enabling card data to be used for fraudulent transactions.
Hypercom's HyperSafe suite of security products protects cardholder data during operation and maintenance, defending terminals from rogue applications and malware, protects the terminal management system from communicating with fraudulent terminals and provides the industry's only remote key management system. Key benefits for banks, processors and large retailers: protects their investment in the point of sale estate, reduces the potential for fraudulent use of terminals and ensures the secure transport of cryptographic keys. HyperSafe is one of five key components Hypercom delivers to protect payment card data.
Hypercom Payment Software Achieves PCI PA-DSS Security Approval