Elavon Upgrades Security Software to EMV

U.S. Bancorp's (USB) payment processing unit Elavon has upgraded its security solution SAFE-T Suite to include support for EMV, according to a press release from U.S. Bancorp on Tuesday.

EMV terminals read encrypted information on chip cards to ensure authenticity. Tokens replace actual card data with a unique identifier to protect data at rest in a merchant's environment, while still allowing it to be used for subsequent business purposes, the release says.

SAFE-T secures payment card transaction information in transit and at rest and allows tokenized information to be reused for subsequent transactions and activity, the release said.

"By removing actual card data from the payment stream, SAFE-T Suite provides businesses with an added layer of data security, protecting both their bottom line and their reputation if a breach were to occur," Rob McMillon, vice president, Global Security Products for Elavon, said in the release.