FreedomPay security tools help merchants exceed industry standards …
End-to-end encryption, tokenization are essential to protecting cardholder data at the point of sale and beyond.
Radnor, PA, September 8, 2010 – Security breaches in the credit card industry have highlighted the need for new technology to stay ahead of the fraudsters. At the same time, Payment Card Industry Data Security Standards (PCI DSS) gives card associations the power to assess significant penalties on merchants and card processors who do not comply, including prohibitions on accepting credit cards.
FreedomPay has been a leader in electronic payments for years, providing high levels of security without fanfare. Early this year FreedomPay formally released two new products designed to help retailers fight credit card hackers and data thieves. Encrypted Magnetic Stripe Reader (eMSR™) and CardSafe™ exceed the highest levels of security standards, rendering credit card data unreadable and unusable outside of the card processing network.
eMSR™ is a secure set of hardware and services that ensure immediate encryption of cardholder information using industry-standard encryption techniques. Once encrypted at the point of sale, no visible cardholder information is passed through the numerous components, networks, and interfaces required to settle a credit card transaction, rendering the data undecipherable, and as a result worthless to hackers.
CardSafe™ is advanced tokenization of cardholder information, which enables the secure storage of credit card information for enterprises that have members, subscribers, and repeat customers. CardSafe™ supports “account on file” storage of cardholder data, so that it can be easily recalled when needed.
By deploying eMSR™ and CardSafe™, merchants assure that their card processing infrastructure exceeds PCI DSS standards and provides the highest level of data security for their customer’s credit card information. In fact, retailers who deploy eMSR™ and CardSafe™ greatly simplify the security assessment requirements of PCI DSS.
Sam Bellamy, Chief Operating Officer of FreedomPay says, “Data security and compliance with PCI standards are among the highest priority items for IT professionals at enterprises that depend on credit card payments. And for small businesses, the cost of compliance can be crippling, while non-compliance is simply not an option. Easy-to-deploy and cost effective solutions like eMSR™ and CardSafe™ are essential to eliminate breach risks, reduce or eliminate PCI compliance fees, and improve customer service.”
eMSR™ and CardSafe™ are available now to FreedomPay customers. For more information, call 866-323-1869.