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Hypercom Corp. has formed a global data-protection business unit to promote the point-of-sale terminal maker's EFTSec Server payment-data encryption technology around the globe, the company announced today. EFTSec Server originated in the Asia-Pacific region to thwart fraudsters tapping into phone lines to capture payment data in transit, Stuart Taylor, Hypercom vice president of global marketing, tells CardLine sister publication ISO&Agent Weekly. Besides securing data in transit, the business unit will work with Palo Alto, Calif.-based Voltage Security Inc. to develop advanced encryption technology, protect data during operational procedures and payment terminal maintenance, use Web-based virtual terminals to separate a merchant's POS system from payment data, and bolster the payment industry's card-authentication efforts, Taylor says. "We're trying to take a more holistic approach to protecting card data, wherever it is," Taylor says. TK Cheung, Hypercom vice president of global quality and security, heads the business unit. Hypercom is based in Scottsdale, Ariz. Separately, rival POS-terminal maker VeriFone Holdings Inc. today announced that payment-security company Semtek Corp. and payment processor Chase Paymentech LLC have agreed to work with VeriFone on an advanced encryption product designed to protect cardholder data. San Jose, Calif.-based VeriFone says all three companies will market and distribute the VeriShield Protect technology to merchants.
