First Data Corp.’s TransArmor payment-tokenization product soon will be available in VeriFone Systems Inc.’s multilane and petroleum point-of-sale terminals, the Atlanta-based transaction processor announced Oct. 28.
Launched in September, TransArmor uses a combination of tokenization and encryption to secure transaction data as it passes through merchants’ payment systems (
VeriFone plans to include TransArmor in its MX800 line of terminals and its Secure PumpPay and Ruby integrated POS products in the first half of 2011, First Data says. First Data’s sales channels will market the service, dubbed TransArmor VeriFone Edition, the processor says.
First Data would not disclose pricing because it may vary depending on the sales outlet and the merchant.
San Jose, Calif.-based VeriFone says TransArmor will work in conjunction with its VeriShield Protect product that protects sensitive data while in transit. The terminal maker says it eventually will certify all of its terminals to support TransArmor.
TransArmor will help secure data “at rest” by replacing card data with a token number that preserves the value of card data for merchant business operations but removes value for fraudsters, Tim Horton, First Data vice president of merchant product management, tells PaymentsSource.
In related news, VeriFone Oct. 27 announced it is working with RSA, The Security Division of EMC Corp., to sell an advanced encryption service called VeriShield Total Protect.
First Data, which worked with RSA to develop TransArmor, hopes the work between the three companies will lead to something more.
“Together we are working toward an industry standard for security to eliminate confusion for merchants,” Horton says. “Based upon this approach, we do not have plans for similar arrangements with other companies.”
Similarly, VeriFone expects more from working with First Data.
“The industry has been approaching payment security in a piecemeal fashion, which has slowed adoption,” Paul Rasori, VeriFone senior vice president of global marketing, tells PaymentsSource. “Given both companies have a significant presence in the North American marketplace, especially in large retailers and petroleum venues, by working together we expect to accelerate adoption and ease any concerns which many [merchants] have had about making the right choice in competing technologies.”
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