Merchant processor Chase Paymentech LLC’s new Safetech Fraud and Security Solutions suite of services will rely on VeriFone Systems Inc.’s VeriShield Protect product for advanced encryption services, VeriFone announced Jan. 19.
VeriShield Protect encrypts sensitive transaction data at the point of sale until the information reaches a secure location, such as inside a payment processor’s network. Dallas-based Chase Paymentech calls its version Safetech Encryption.
Safetech services also include Safetech Fraud Tools that can manage a merchant’s transaction risk, Chase Paymentech says. Developed by Boise, Idaho-based Kount Inc., this service works with any currency or payment method, the processor says.
Merchants will be able to use individual or grouped services, Chase Paymentech says.
Chase Paymentech did not respond to inquiries about pricing or service availability by PaymentsSource deadline.
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