Hypercom expands payment card industry’s protection against fraud globally

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Hypercom Corporation, a global payment technology leader, today announced key initiatives to step up the payment card industry’s ability to attack payment card data fraud. Teaming with Voltage Security, Inc. the Company is bringing its Asia-Pacific-based EFTSec Server™ payment data encryption technology to North America, Latin America and Europe to deliver highly innovative and scalable cryptographic technology, and forming a global data protection business unit to address customer-specific security threats with five key approaches to data security.

believes end-to-end payment data protection encompasses protecting data throughout its lifecycle—not only encrypting it when in transit but also when at rest in a merchant or payment processing enterprise environment. The Company offers five key components required to protect payment card data. The first one is line encryption for data in transit which encrypts cardholder data during transaction processing, starting at the payment terminal and ending at a trusted point where the data is decrypted. Hypercom considers to be necessary the protection for data end-to-end and teams with Voltage Security, Inc. to implement cryptographic technology that delivers an array of end-to-end encryption across its product line. Protection for data during operation and maintenance is achieved with Hypercom’s HyperSafe® suite of security products which defend terminals from rogue applications and malware, protects the terminal management system from communicating with fraudulent terminals and provides the industry’s only remote key management system. Usuing virtual terminals is possible with advanced server capabilities such as Hypercom’s SmartPayments™ and Wynid® product suites, data segmentation can be easily achieved, enabling “large store functionality” for mid-size business environments. In addition to complete enterprise-wide end-to-end payment data protection, Hypercom supports the strengthening of card authentication as an important tool to prevent card skimming.

Mark Bower, Vice President, Product Management, Voltage Security, Inc. said: “Hypercom is setting a new global card protection standard by bringing to market the payment industry’s widest choice of protection options to protect businesses and simplify implementation. Hypercom has long been recognized as the leader in payment security and we are delighted to team with them to help businesses worldwide.”

Hypercom’s new Global Data Protection Business Unit will consult with customers to determine individual system configurations, security threats and the best security solutions to address their specific needs, and then direct the implementation. TK Cheung, Hypercom’s Vice President, Global Quality and Security heading the new business unit, said: “One solution does not fit all when it comes to payment card data protection. The payment industry is highly complex and requires a range of solutions each of which can protect the various elements that comprise an end-to-end solution. To that end, we are making available the smartest array of security approaches providing choices for businesses of all types to fortify their defenses and protect cardholder data against current and future threats. The addition of Voltage Security’s end-to-end encryption to our arsenal of crime-fighting technologies together with EFTSec and HyperSafe suite of security products allows us to deliver the industry’s most comprehensive selection of security solutions.”