Monday , November 19, 2018

VeriFone and First Data Team Up on Integrated POS System Security Effort


Merchants using integrated point-of-sale systems and that process payments with First Data Corp. have a new data-security option if they use POS terminals made by VeriFone Systems Inc., which goes by Verifone.

Atlanta-based First Data is now selling Verifone’s Secure Commerce Architecture service, which eliminates the flow of consumer payment data into the integrated POS system. That can help merchants with the transition to the Europay-MasterCard-Visa (EMV) payment standard, which carries a shift in liability in October 2015, when the party not EMV- compliant becomes liable for any fraud.

First Data also will send payment data for merchants using Secure Commerce Architecture through its TransArmor service, enabling encrypted payment data to be sent directly from a Verifone payment terminal to First Data.

“First Data’s support of SCA is a significant step in easing the burden on merchants of data breaches, and the related complexity from EMV acceptance in the U.S.,” Paul Galant, Verifone chief executive, said in a press release. “This partnership will enable First Data merchants in the U.S. that use Verifone terminals to experience the benefit of an integrated POS, while enhancing the safety and soundness of the payments industry.”

Breaches of integrated POS systems are one of the biggest challenges facing the payments industry, First Data says.

Indeed, POS systems were targeted in the Target Corp. and The Home Depot Inc.breaches, each resulting in the theft of millions of payment data records.

Check Also

Security Concerns Still Hold Back Mobile Payments, PSCU Survey Finds

Consumers still have fears about the safety of mobile payments, according to new findings from …