Chase Paymentech has unveiled a new fraud
prevention solution in Canada.

The product – Safetech Encryption – has been
launched in partnership with payment solutions provider VeriFone.
It is designed to protect consumers from payment card fraud and
data theft and will be available to all Chase Paymentech Canada POS
retail customers.

Sam Jawad, president, Chase Paymentech Canada,
said data security is concern for retailers.

“Safetech Encryption will ultimately help
protect merchants and their customers from the increasing risks
associated with global fraud and data breaches at the point of
sale.”

Safetech Encryption secures all type of
payment transactions including contactless.