Payment terminal vendor VeriFone Holdings has landed a major retail client and upgraded a key product segment through its new VeriShield Protect credit and debit card data protection system.
A day after announcing VeriShield in April, San Jose-based VeriFone announced that 6,500 Family Dollar small-box stores would be equipped with payment systems with the special encryption standard – created by SemTek Innovative Solutions. Last week, it added the feature to its Secure PumpPay payment system for retail fuel station clients. Secure PumpPay will encrypt and hide personal account numbers and magnetic-stripe data until it reaches a transaction center for processing.
The technology helps retailers with one of their biggest headaches around retaining customer card data – compliance with PCI DSS standards, which card companies require they follow. While the brunt of costs from data breaches fall on banks and card issuers, many problems come from weak POS end-points where hackers try to break in through merchant networks, applications and servers.
