Royal Bank of Scotland Group PLC's RBS WorldPay processing unit in Atlanta has agreed to promote encryption technology from the terminal maker VeriFone Holdings Inc.
VeriFone, of San Jose, said Tuesday that RBS WorldPay is the first acquirer to announce plans to promote its VeriShield Protect software, which encrypts transaction data when a payment card is swiped and decrypts it at the receiving end.
VeriFone says it and RBS WorldPay will work together to sell VeriShield Protect to RBS WorldPay's merchant clients.
The terminal company said VeriShield Protect can remove usable payment card data from merchants' systems.
RBS WorldPay plans to offer it first to its grocer and multilane retailer clients, and later to smaller merchants. RBS WorldPay said demand for such a service is strongest among the largest merchants that are required to provide audited reports of their payment networks.
