Hypercom and First Data Team to Step Up Payment Industry’s Attack on Card Data Fraud
- First Data Approves Hypercom as an Encrypting Service Organization for Remote Key Injection
- Hypercom and TASQ to Roll-out HyperSafe® Remote Key System
- Industry Leaders to Boost Security for Merchants with TransArmor™ and HyperSafe
SCOTTSDALE, Ariz., & ATLANTA--(BUSINESS WIRE)--High security electronic payment and digital transactions solutions provider Hypercom Corporation (NYSE: HYC) and First Data Corporation, a global leader in electronic commerce and payment processing, today 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® TransArmorSM solution as a significant advance in the payment industry’s attack on card data fraud.
“Add to that the fast approaching requirements for 3DES, and the ability to expedite merchant migration to 3DES and eliminate cost is essential.”
“Implementing effective data security requires sophisticated and tailored technologies that make it easier for our merchant customers to do business. The time, convenience, cost and security benefits of Hypercom’s remote key injection system are clear, and the additional security offered by HyperSafe complements TransArmor’s objectives to deliver much needed security to our business partners and respective merchants globally,” said Ed Labry, president of Retail and Alliance Services, First Data.
Industry’s Leading Standards-Based Remote Key Injection
Hypercom’s Remote Key System (HRKS) is the industry’s leading 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.
HRKS eliminates the need for off-site secure room key injection by incorporating PKI (Public Key Infrastructure) to securely distribute symmetric 3DES keys. HRKS meets ANSI x9.24 and Visa PIN Security Guidelines for remote key management, and is FIPS 140-2 Level 3 and X509 compliant.
“Merchants in today’s demanding economy need the fastest, most proven and flexible secure key injection software to streamline their operations and boost the bottom-line. No one wants to waste the time and money shipping their newest terminals off-site, nor should they be expected to do that,” said Philippe Tartavull, chief executive officer and president, Hypercom Corporation. “Add to that the fast approaching requirements for 3DES, and the ability to expedite merchant migration to 3DES and eliminate cost is essential.”
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.
Partnership to Fight Card Data Fraud
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.
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.
“We are making available the smartest array of security approaches providing choices for businesses of all types to fortify their defenses and protect cardholder data against current and future threats. The addition of the First Data TransArmor solution to our arsenal of crime-fighting technologies together with our HyperSafe suite of security products allows us to deliver the industry’s most comprehensive selection of security solutions,” said Mr. Tartavull.
Additional resources:
About First Data
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the aggregate data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com.
About Hypercom (www.hypercom.com)
Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service, and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.
Hypercom and HyperSafe are registered trademarks of Hypercom Corporation. The First Data and TransArmor trademarks and service marks are owned by First Data Corporation and are either registered or used in the United States and/or in other countries. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
Contacts
Hypercom Corporation
Pete Schuddekopf, 480-642-5383
pschuddekopf@hypercom.com
or
First Data
Elizabeth Grice, 303-967-8526
elizabeth.grice@firstdata.com
Pete Schuddekopf, 480-642-5383
pschuddekopf@hypercom.com
or
First Data
Elizabeth Grice, 303-967-8526
elizabeth.grice@firstdata.com
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