VeriFone Systems, Inc. (NYSE: PAY) and Vantiv,
Inc. (NYSE: VNTV)—a leading provider of payment processing services
and related technology solutions for merchants and financial
institutions of all sizes—won The Banker Technology Project of
the Year 2014 award in the Risk Management category for their
industry-leading, multi-layered approach to reducing cardholder data
security risk using end-to-end encryption.
Read in over 180 countries around the world, The Banker is the
key source of data and analysis for the financial services industry.
Brian Caplen, the publication’s editor, said: "Congratulations to Vantiv
and VeriFone on winning The Banker's Risk Management
category in our 2014 Technology Projects of the Year. Together, these
two companies have enabled card information to be encrypted at the
point-of-sale, making the data secure as it is transmitted to the
processor. It is a big step forward in the fight against cyber crime.”
Vantiv is one of the largest payment processors for merchants and
financial institutions in the U.S., with nearly 17 billion card
transactions processed in 2013. In partnership with VeriFone, it
implemented VeriFone’s end-to-end encryption solution, VeriShield
Protect, upholding its reputation as a merchant advocate and providing
clients a best-in-class solution to protect cardholder data at the
point-of-sale (POS) and throughout the payment cycle, while at the same
time streamlining PCI management.
“Vantiv partnered with VeriFone and added to its existing suite of fraud
management solutions as a way to reduce our clients’ risk of cardholder
data compromises,” said James Zerfas, Vice President of Security and
Risk Products at Vantiv. “With this industry-leading solution,
businesses and consumers benefit from a comprehensive approach to
security that protects data from the point-of-sale to our secure data
centers.”
“As evidenced by this award, Vantiv is a great partner in ensuring
security for merchants. VeriShield Protect enables Vantiv to enhance
payments security for all of its clients, including small and
medium-sized merchants, by providing a level of security typically
associated with large, well-known retail brands,” said Robert McMillon,
Vice President of Product Security for VeriFone. “Instead of worrying
about the complexities of maintaining compliance and security, clients
are able to focus more on managing and expanding their businesses.”
With VeriShield Protect, point-to-point encryption of consumer payment
credentials begins in-store at the VeriFone payment terminal and is
transmitted securely until it is decrypted within Vantiv’s system. Once
Vantiv processes the transaction, a one-to-one token representing the
cardholder data, along with the authorization response code, is sent
back to the merchant to complete the transaction.
Additional Resources
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995 for VeriFone Systems, Inc
This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on management's current expectations or
beliefs and on currently available competitive, financial and economic
data and are subject to uncertainty and changes in circumstances. Actual
results may vary materially from those expressed or implied by the
forward-looking statements herein due to changes in economic, business,
competitive, technological and/or regulatory factors, and other risks
and uncertainties affecting the operation of the business of VeriFone
Systems, Inc., including many factors beyond our control. These risks
and uncertainties include, but are not limited to, those associated
with: client adoption of the VeriFone VeriShield Protect solution,
execution of our strategic plan and business initiatives and whether the
expected benefits of our plan and initiatives are achieved, short
product cycles and rapidly changing technologies, our ability to
maintain competitive leadership position with respect to our payment
solution offerings, our assumptions, judgments and estimates regarding
the impact on our business of the continued uncertainty in the global
economic environment and financial markets, our ability to successfully
integrate acquired businesses into our business and operations, our
ability to protect against fraud, the status of our relationship with
and condition of third parties such as our contract manufacturers,
distributors and key suppliers upon whom we rely in the conduct of our
business, our dependence on a limited number of customers, the conduct
of our business and operations internationally, our ability to
effectively hedge our exposure to foreign currency exchange rate
fluctuations, and our dependence on a limited number of key employees.
For a further list and description of the risks and uncertainties
affecting the operations of our business, see our filings with the
Securities and Exchange Commission, including our annual report on Form
10-K and our quarterly reports on Form 10-Q. The forward-looking
statements speak only as of the date such statements are made. VeriFone
is under no obligation to, and expressly disclaims any obligation to,
update or alter its forward-looking statements, whether as a result of
new information, future events, changes in assumptions or otherwise.
About Vantiv
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor
differentiated by a single, proprietary technology platform. Vantiv
offers a comprehensive suite of traditional and innovative payment
processing and technology solutions to merchants and financial
institutions of all sizes in the U.S., enabling them to address their
payment processing needs through a single provider. We build strong
relationships with our customers, helping them become more efficient,
more secure and more successful. Vantiv is the third largest merchant
acquirer and the largest PIN debit acquirer based on number of
transactions in the U.S. The company's growth strategy includes
expanding further into high growth payment segments, such as integrated
payments, payment facilitation (PayFacTM), mobile, prepaid and
information solutions, and attractive industry verticals such as
business-to-business, ecommerce, healthcare, gaming, government and
education. For more information, visit www.vantiv.com.
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in
secure electronic payment solutions. VeriFone provides expertise,
solutions and services that add value to the point of sale with
merchant-operated, consumer-facing and self-service payment systems for
the financial, retail, hospitality, petroleum, government and healthcare
vertical markets. VeriFone solutions are designed to meet the needs of
merchants, processors and acquirers in developed and emerging economies
worldwide.
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