Monday, June 20, 2011

Elavon Introduces SAFE-T Suite Point-to-point Encryption and Tokenization Solution

By Holly Lytle

Secure, Flexible Comprehensive Solutions Protect Data and the Bottom Line

ATLANTA – June 20, 2011 – Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payments provider, today releases Safe-T Suite, its Secure and Flexible Encryption and Tokenization portfolio of products and services that helps companies protect data at every point in the transaction lifecycle: in use, in transit and at rest. The solution also eases the burden of PCI compliance audits and helps reduce the total cost of card acceptance.

SAFE-T Suite supports point-to-point encryption (P2PE, also referred to as end-to-end encryption) and protects data from the earliest point in the transaction lifecycle utilizing VeriFone’s hardware-based tamper-resistant security module. Actual cardholder data never enters the payment stream, substantially mitigating the complexities of PCI compliance while meeting stringent security standards.

The encrypted data travels across the networks to Elavon’s secure data center where it is decrypted and sent to the card networks for authorization. Merchants also have the flexibility to utilize Fusebox, Elavon’s secure, hosted payment gateway that features multi-point connectivity to an extensive list of Fusebox-certified processors, thereby providing a consistent method for P2PE regardless of acquiring endpoints.

SAFE-T Suite also supports tokenization, which creates a unique Token ID that replaces cardholder data on the response transaction, protecting data at rest and allowing subsequent transactions and adjustments to be securely processed whenever the card number associated with the transaction needs to be used again. Elavon hosts and maintains the token vault in its secure data center, which removes a point of vulnerability for enterprise customers.

Designed with flexibility in mind, Elavon supports multiple configurations to simplify PCI and even extend the life of legacy POS systems while employing a consultative, tailored approach for SAFE-T Suite implementation to ensure that every security consideration and compliance requirement is met. Further, Elavon makes it simple for businesses to work with a single provider for both P2PE and tokenization while extending the opportunity to utilize Elavon as an acquiring host or to connect to multiple processors using Fusebox.

“Our comprehensive solution combines over 20 years of global processing and gateway experience with our stable, redundant Stratus systems and the industry’s most knowledgeable, responsive people,” said Marianne Johnson, newly named Executive Vice President of Global Product & Innovation, of Elavon. “SAFE-T Suite considers every requirement an enterprise may need to meet stringent security standards and protect the bottom line – from ROI analysis to PCI Audit Managed Services, our experts perform solution design and implementation support because we understand that security is a process, not a product.”

To learn more about SAFE-T Suite, visit Elavon at HITEC booth #425.

About Elavon: Elavon’s Global Acquiring Solutions organization is a part of U.S. Bancorp. Elavon provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Mexico, Brazil, Canada and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, multi-currency support, and cross-border acquiring. Elavon’s solutions meet the needs of merchants in specialized markets including small business, retail, hospitality/T&E, health care, education and the public sector and are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs. For more information about Elavon visit www.elavon.com.

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