VeriFone Holdings Inc. has created a new business unit focused on payments security.
The San Jose terminal maker said the Global Security Solutions unit will market and install its VeriShield Protect and VeriShield Retain products and provide consulting services.
VeriShield Protect encrypts sensitive cardholder data during a transaction. VeriShield Retain secures a payment terminal to prevent unauthorized use of the device.
"This business will develop and sell" products "that span all geographies and customer types — merchants, processors and independent sales organizations, and will work in conjunction with existing business units to sell to their customers," a VeriFone representative said.
Jeff Wakefield, previously the vice president of marketing for VeriFone's integrated systems business, has been named general manager of the new unit, which the company announced Tuesday.