Tuesday, June 8, 2010
Elavon Expands its Powerful Suite of Security Solutions
By Holly Lytle
ATLANTA - June 8, 2010 – Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payments provider, has chosen to extend its comprehensive security solutions suite by adapting technologies from Semtek and Voltage Security to include end-to-end encryption capabilities for its acquiring and gateway solutions. Additionally, Elavon has developed advanced tokenization schemes that will allow merchants to securely access card data for future transactions.
Elavon's suite of security solutions supports multiple configurations that are mapped to the business needs, point-of-sale infrastructure and processing environment for merchants from a variety of industries. The adaptation of Semtek's and Voltage Security's encryption technologies further complements Elavon's delivery of secure solutions while providing a single source for all payment solutions - from security to processing, funding and support.
"End-to-end encryption and advanced tokenization are rapidly becoming preferred methods for securing cardholder data," said Stuart C. Harvey Jr., CEO of Elavon. "Additionally, these solutions often help merchants reduce the scope and resources associated with annual PCI audits, allowing them to focus on serving the needs of their customers."
Solutions featuring advanced tokenization and end-to-end encryption with format-preserving capabilities are designed to provide a deeper layer of security to protect cardholder data from its point of entry through to the authorization network, as well as to securely use the information from the card to facilitate future transactions and adjustments.
Elavon's implementation is unique in that it has chosen to deliver both hardware and software-based technologies and stands ready to support additional end-to-end encryption technologies as they mature-allowing merchants to choose the security solution that best fits their needs today and in the future. Elavon understands that there is no single solution to solve the data protection needs of all merchants and offers a comprehensive suite of security solutions and programs that include: PCI compliance support, hosted payment gateways, secure device entry modules, tokenization, end-to-end encryption, security consulting, implementation services, and PCI audit analysis.
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, 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.
About Semtek: Semtek is focused on resolving the security vulnerabilities of magnetic stripe, contactless, and EMV based payment systems and is playing an increasingly central role in the development and deployment of end to end security architectures that resolve the security risks associated with accepting and processing payment card data. For more information, please visit Semtek's website at www.semtek.com.
AboutVoltage Security: Voltage Security, Inc., an enterprise security company, is an encryption innovator and global leader in end-to-end data protection. Voltage solutions, based on next generation cryptography, provide end-to-end encryption, tokenization, masking and simplified key management for protecting sensitive information such as card holder data. Voltage products enable reduction in PCI audit cost with rapid implementation and the lowest total cost of ownership in the industry through the use of award-winning cryptographic solutions, including Voltage Identity-Based Encryption™ (IBE) and a new breakthrough innovation: Format-Preserving Encryption™ (FPE). Offerings include Voltage SecureMail™, Voltage SecureData™, Voltage SecureFile™ and the Voltage Security Network™ (VSN), an on-demand managed service for the extended business network.
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