|Page (1) of 1 - 06/20/12||email article||print page|
Shift4 Announces New Point-to-Point Encryption Capability(June 20, 2012)
LAS VEGAS, NV -- (Marketwire) -- 06/20/12 -- Shift4 Corporation, the world's largest independent payment gateway, today announced its Point-to-Point Encryption (P2PE) solution, capable of securely processing credit, debit, third-party gift cards, and split-processing direct to American Express.
"This solution pairs the proven security of our TrueTokenization® with the PCI-scope-reduction of P2PE and provides merchants with the best of both worlds," said Shift4 CEO Dave Oder.
Shift4's P2PE solution encrypts cardholder data (CHD) at the point of entry -- inside the swipe device or the keypad -- before it has even entered the merchant's system. That encrypted data is then doubly encrypted by Shift4's Universal Transaction Gateway® (UTG®) and immediately sent to DOLLARS ON THE NET®. After authorizing the transaction, Shift4 passes back a TrueToken to the merchant for record keeping, card-on-file transactions, and chargeback defense. Because neither the encrypted data nor the TrueToken are considered CHD, the merchant has no card data environment (CDE).
"With no CDE, PCI has no claim on merchants," Oder said. "They are free to turn the time and resources previously dedicated to compliance to issues of real importance, like true security and providing excellent service to their customers."
Shift4's P2PE solution is unique in that they are an entirely neutral entity holding the encryption keys. This makes it possible for Shift4 to handle split processing of different card types (including gift card, American Express, and debit) and give merchants the ability to protect themselves from the rate creep that so often comes when they are tied to their bank or processor by proprietary technology. Shift4's merchant customers can change banks or processors at will without losing any of their data or the ability to process transactions using P2PE.
For Shift4 customers who already have the UTG and/or 4Go® (Shift4's driver-based firewall) in place, the addition of P2PE is as simple as ordering a supported device and plugging it in. The development work has been completed by Shift4, so merchants can reap the benefits of those efforts immediately. Currently, these devices are available through a partnership with ID TECH and can be obtained through either the ScanSource or TASQ reseller channels.
Shift4 customers interested in implementing this solution should contact firstname.lastname@example.org. Those not yet working with Shift4 can learn more by calling 702.597.2480 and selecting option 3 or by e-mailing email@example.com.
About Shift4 Corporation
Founded in Las Vegas in 1994, Shift4 Corporation is the world's largest independent gateway, serving more than 20,000 clients in several industries, including Hospitality, Retail, Food & Beverage, Mail/Telephone Order, and e-Commerce. Boasting more than 350 POS/PMS integrations and maintaining absolute bank- and processor-neutrality, Shift4 is proudly merchant-centric, helping clients secure the best discount rates while providing industry-leading security, speed, and reliability. Recognized as a pioneer of Tokenization, Shift4 has processed more than three billion tokenized transactions since it coined the term in 2005. Shift4's DOLLARS ON THE NET® solution provides unparalleled pre- and post-settlement auditing capabilities, fraud protection, and drastically simplified PCI compliance. For more information, visit www.shift4.com.
Gianna A. Vivo
Copyright @ Marketwire
Related Keywords: Shift4 Corporation, Marketwire, Discount,