Fifth Third Processing Solutions LLC has agreed to offer its merchant clients encryption and tokenization technology from Voltage Security Inc.
Voltage, of Palo Alto, Calif., said its technology can be used to encrypt card data as it is swiped at the point of sale and keep it secure until it is handed off to the card brands. Tokenization allows card data to be substituted with a proxy number, a "token," that can be used to reference transactions without keeping a record of the actual card number.
"This end-to-end encryption solution offers an extremely comprehensive and useful approach to data protection," Bob Bartlett, the chief information officer at Fifth Third Processing Solutions, said in a Voltage press release Wednesday.
Fifth Third Processing Solutions, of Cincinnati, is a joint venture of the private-equity firm Advent International Corp. and Fifth Third Bancorp's Fifth Third Bank. It serves 180,000 merchants of varying sizes.
