SANTA CLARA, Calif. -- Robinson Oil Corp., another petroleum and convenience store retailer and a major U.S.-based brand of gas stations will pilot VeriFone Systems Inc. and First Data Corp.'s VeriFone edition of the First Data TransArmor solution for U.S. multi-lane and petroleum merchants, beginning in July 2014.
The recently launched solution, an end-to-end encryption and tokenization of cardholder data captured at the counter and at the pump, is a result of a partnership between VeriFone and First Data to address retailers' need for enhanced payment security.
"Petroleum and convenience store retailers have been increasingly focused on bolstering payment security, especially in light of recent breaches in the headlines," said Tom Robinson, president of Santa Clara, Calif.-based Robinson Oil, which will roll out the TransArmor, VeriFone edition across its 34 Rotten Robbie retail locations following the pilot. "As a result of First Data and VeriFone's solution, we now have the means to enhance cardholder data protection long before the 2017 EMV deadlines take effect for transactions at gas pumps."
The TransArmor, VeriFone edition, enables First Data customers using VeriFone's Secure PumpPay and MX series of EMV and NFC-enabled devices to take advantage of a complete security solution combining VeriFone's VeriShield encryption along with tokenization technology from RSA, the Security Division of EMC.
Cardholder data benefits from increased protection "in-flight" from the moment it enters the merchant environment--whether indoors or at the pump--all the way to First Data's data center, using VeriFone's hardware fortified and format preserving encryption technology.
"Data breaches are a widespread problem with over 1.1 billion records compromised in the last 10 years and the average organizational cost estimated at $5.4 million1," said Paul Kleinschnitz, senior vice president of cyber security solutions for First Data. "This partnership with VeriFone on the TransArmor solution illustrates our commitment to collaborate with industry experts to bring best-in-class security solutions to new markets such as petro."
"Being the first to bring end-to-end encryption and tokenization to the petro space, especially in a way that enhances security at the pump—an unattended site vulnerable to the types of attacks seen in recent headlines—demonstrates VeriFone and First Data's commitment to addressing security needs beyond encryption," said Dan Yienger, senior vice president and general manager of petroleum for VeriFone. "This solution enhances our offerings to the retail petroleum industry while serving as a testament to our leadership in payment security innovation."
To secure data "at rest," the solution has been engineered with RSA tokenization technology that replaces card data with a token number that preserves the value of card data for merchant business operations but removes value for fraudsters. When implementing the TransArmor solution, merchants will meet or exceed existing industry guidelines and requirements for end-to-end encryption and tokenization of payment card data regardless of their unique environment.
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