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Bluefin and Verifone Strengthen Payment Security with New Partnership to Provide PCI-Validated Point-to-Point Encryption (P2PE)

PAY | July 11, 2018

Bluefin and Verifone Strengthen Payment Security with New Partnership to Provide PCI-Validated Point-to-Point Encryption (P2PE)

Verifone (NYSE: PAY), a world leader in payments and commerce solutions, and Bluefin, the leading global payment security platform supporting gateways, processors and ISVs, announced a partnership to provide Bluefin’s PCI-validated Point-to-Point Encryption (P2PE) security solution to merchants using either Verifone’s POINT or Retail Transaction Switch (RTS) solutions. Through this partnership, merchants can reduce not only the cost and effort they incur when trying to comply with PCI PA DSS requirements, but also mitigate the risk associated with face-to-face payments.

The Verifone Validated P2PE solution, which can now be viewed on the PCI P2PE Solution website, is an incremental offering within Verifone’s industry-leading payment security product line. This Validated P2PE solution is designed to meet the needs of merchants of all sizes and offers multiple configurations and processing options.

“Merchants around the globe are looking to fully certified PCI P2PE solutions for protection from threats to consumer and card data,” said John M. Perry, CEO, Bluefin. “In partnership with Verifone, we are delighted to protect retailers and merchants with the best-in-breed security solution that offers PCI DSS scope relief and secures cardholder data.”

To be certified as a PCI-validated P2PE solution requires that the payment solution adopts specific physical, logical and operational security controls. The implementation of these controls is ultimately reviewed by a special P2PE Qualified Security Assessor (QSA) and then again by PCI prior to a solution being deemed “Validated P2PE Certified.” The purpose of this process is to ensure that an encrypting payment solution has been implemented in a way which truly reduces risk.

“We are a client-first company, and with this new partnership we give merchants greater peace of mind, freeing them to focus on running their business and serving their customers,” said Joe Mach, president of North America for Verifone. “Our mission is to bring simplicity to doing business today by looking for new ways to ease the points of friction in payments and commerce.”

The combination of Verifone’s industry leading payment devices and solutions, and Bluefin’s decryption and operational capabilities result in a true enterprise-class solution. It secures credit and debit card transactions by encrypting all data within a PCI-approved point of entry device. This prevents clear-text cardholder data from being available within the device, or in the merchant’s system where exposure to malware is possible. Data decryption always occurs offsite in a Bluefin hardware security module (HSM), ensuring the highest level of security.

For merchants, the benefits of the Bluefin / Verifone P2PE solution include reducing PCI scope from 329 to a 33 question P2PE self-assessment questionnaire (SAQ), managing chain of custody using the Bluefin P2PE Manager® online device management system, and integration with Verifone’s market-leading line of payment solutions.

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: successful rollout of Verifone solutions certified with Bluefin’s PCI-validated Point-to-Point Encryption security solution in North America, 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. We may also provide material information about us on our investor relations website at www.ir.verifone.com, in company press releases and in social media postings. 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 Bluefin Payment Systems

Bluefin provides the leading payment security platform that supports payment gateways, processors and ISV’s in more than 20 countries. Bluefin’s secure payment platform is key to the holistic approach to data security. Designed to complement EMV and tokenization, Bluefin’s PCI-validated Point-to-Point (P2PE) solutions provide a solid security defense against current and future data breaches. Bluefin supports point of sale solutions for retail, mobile, call center and kiosk/unattended environments, and secure Ecommerce technologies. Bluefin is a Participating Organization (PO) of the PCI Security Standards Council (SSC) and is headquartered in Atlanta, with offices in New York, Chicago, Tulsa and Waterford, Ireland. For more information, please visit https://www.bluefin.com/.

About Verifone

Verifone is transforming every day transactions into new and engaging opportunities for merchants and consumers at the last inch of payments and commerce. Powered by a growing footprint of more than 30 million devices in more than 150 countries, our people are trusted experts working with the world’s best-known retail brands, financial institutions, and payment providers. Verifone is connecting more products to an integrated solutions platform to better meet the evolving needs of our clients and partners. Built on a 35-year history of uncompromised security, we are committed to consistently solving the most complex payment challenges. Verifone.com | (NYSE: PAY) | @verifone.