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Payment security is the sole focus of a new business unit at VeriFone Holdings Inc., the San Jose, Calif.-based point-of-sale terminal market announced today. The Global Security Solutions unit will be responsible for sales, consulting and implementation of the company's VeriShield Protect and VeriShield Retain services, VeriFone says. 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 spokesperson tells CardLine sister publication ISO&Agent Weekly. VeriFone named Jeff Wakefield general manager and vice president of the business unit. He had been VeriFone vice president of marketing for its integrated systems business.
