First Data partners Verifone to fight payment data breach
First Data and Verifone have formed a partnership to reduce large-scale consumer payment data breaches.
First Data, a payment technology firm, and Verifone, a global payment security provider, have formed a partnership to reduce large-scale consumer payment data breaches and expedite merchant acceptance of EMV-enabled credit and debit cards in the US.
Verifone’s Secure Commerce Architecture (SCA) combined with First Data’s TransArmor data protection solution to encrypt consumer card data will provide safe and streamlined transactions preventing theft of data from merchants’ integrated point-of-sale (POS) systems.
The partnership powered by SCA will also address the challenge faced by several merchants’ POS integrators and other payment providers looking to certify new EMV-capable devices to comply with the mandated fraud liability shift from bank to merchant in October 2015.
Paul Galant, CEO of Verifone, said: “First Data’s support of SCA is a significant step in easing the burden on merchants of data breaches, and the related complexity from EMV acceptance in the US.
This partnership will enable First Data merchants in the U.S. that use Verifone terminals to experience the benefit of an integrated POS, while enhancing the safety and soundness of the payments industry.”