US Bancorp’s merchant acquiring and payment
processing arm Elavon has introduced an EMV support to its Safe-T
Suite security solution to increase security for payment
transactions.
Safe-T Suite aims to protect card data during
all steps of the transaction process, as EMV terminals read
advanced algorithms contained on chip cards and ensure the card is
not a counterfeit, Elavon said.
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Elavon deploys point-to-point encryption
technology, which secures the consumer and payment data from the
time a card is presented and as it travels across the payment
processing networks.
Tokenisation replaces actual card data with a
unique identifier to protect data at rest in a merchant’s
environment, while still allowing it to be used for subsequent
business purposes.
“PCI compliance alone does not guarantee
security. To successfully combat evolving security threats,
companies must adapt, update and modernise their security
strategies,” Merchant Risk Council managing director of the
Americas, Tom Donlea, said.
Elavon Global Security Products vice-president
Rob McMillon said by removing actual card data from the payment
stream, Safe-T Suite provides businesses with an added layer of
data security, protecting both their bottom line and their
reputation if a breach were to occur.
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By GlobalData“Safe-T Suite also reduces the scope of a
merchant’s card data environment, thereby reducing the costs and
labour typically associated with annual PCI compliance
assessments,” McMillon added.
