TRY FOR FREE

First Data Partners with Verifone to Fight against Payments Data Breach

First Data, a payments technology company, has partnered with Verifone, a leading provider of secure payments acceptance, to help US merchants combat exposure to consumer payment data breaches. The companies are also looking to help the merchants in acceptance of EMV enabled credit and debit cards, in light of the EMV mandate.

With the recent data breaches at retailers like Target, theft of payment data from POS systems has been the biggest challenge that the payments industry is facing. The EMV mandate has brought forth another challenge for POS integrators and other payment providers, who are now looking to certify new EMV-capable devices. To address these challenges, First Data is offering Verifone’s Secure Commerce Architecture (SCA) solution to US merchants using Verifone’s equipment within an integrated point of sale (IPOS) system.

The SCA handles the EMV compliance by eliminating flow of payment data into IPOS. First Data will also leverage its TransArmor data protection solution for payment data flow in order to enable encrypted delivery to its system directly from Verifone terminals. Here is an illustration highlighting the SCA:

Guy Chiarello, President of First Data, said in an official press release: As we have seen over the past few years, data breaches have become widespread and undermine consumer confidence and privacy. While EMV acceptance in the marketplace will strengthen data protection, it creates a burden on merchants and those that serve them. This partnership with Verifone furthers our objective of working with the leading payment technology providers to benefit merchants and their customers.

Paul Galant, CEO of Verifone, said in an official press release: 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 US. 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.

RECOMMENDED