Hypercom's HyperSafe Secure Meets SPVA Requirement Guidelines for End-to-End Payment Data Protection
Last Update: 5/27/2010 9:05:00 AM
Hypercom's HyperSafe Secure Meets SPVA Requirement Guidelines for End-to-End Payment Data Protection
SCOTTSDALE, Ariz., May 27, 2010 (BUSINESS WIRE) -- Hypercom Corporation (HYC) today announced that its existing HyperSafe(R) Secure suite of payment data encryption technology meets the new security requirement guidelines issued by the Secure POS Vendor Alliance (SPVA). Hypercom's HyperSafe Secure suite is available globally.
Hypercom introduced the payment industry's first end-to-end encryption technology in 2006 with its HyperSafe Secure EFTSec Server(TM). EFTSec is used by major banks, is licensed to and implemented by several major terminal manufacturers, and is the defacto industry standard for payment terminal initiated link encryption in Asia. Unlike recently introduced competitor solutions that require the purchase of custom equipment or utilize third party decryption services, EFTSec leverages a bank's or retailer's existing network infrastructure.
In October 2009, Hypercom announced five key initiatives to boost the payment card industry's ability to thwart payment card data fraud. Last month, the Company expanded that effort, teaming with First Data Corporation to further combat card data fraud.
The just-announced SPVA end-to-end security requirement guidelines are designed to promote information security best practices and provide merchants with a clear understanding of what encryption features should provide to reduce information security risks related to payment account data; and, as a subsequent benefit, reduce a bank's or retailer's burden of compliance with Payment Card Industry Data Security Standards. The SPVA's objective is to create an industry encryption framework for payment account data to adequately secure card payment account data before it enters the application environment.
"It is absolutely essential that our industry deliver innovative and highly adaptable security solutions that meet each customer's individual technology choices and implementation requirements to protect cardholder data and preserve cardholder trust in the integrity of the electronic payment system. We are delivering just that with our HyperSafe Secure suite of solutions," said T.K. Cheung, Vice President, Global Quality and Security, Hypercom Corporation. "Hypercom offers the industry's widest array of payment card protection technologies to protect businesses and cardholders globally."
Hypercom's HyperSafe Secure suite delivers the payment industry's broadest range of protection options to protect businesses and simplify implementation, and includes solutions from Voltage Security, Inc., MagTek, Inc. and First Data Corporation.
Hypercom's HyperSafe Secure suite incorporates Hypercom's full X509 PKI (public key infrastructure) HyperSafe security layer embedded in every Hypercom Optimum card payment terminal to protect the terminal and applications from hacking and malware attacks.
Protecting the operational procedures and maintenance of payment terminals is just as important as protecting cardholder data. Hypercom's HyperSafe suite of security products defends terminals from rogue applications and malware, protects the terminal management system from communicating with fraudulent terminals, and provides the industry's only remote key management system. The key benefit for banks, processors and large retailers: protects their investment in the point of sale estate, reduces the potential for fraudulent use of terminals and ensures the secure transport of cryptographic keys.
About Hypercom ()
Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.
Hypercom and HyperSafe are registered trademarks of Hypercom Corporation. EFTSec Server is a trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding market acceptance of new products, product capability and performance, product competitiveness, product sales, revenues and profits, and market share. These forward-looking statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; compliance with industry standards, certifications and government regulations; the performance of suppliers, contract manufacturers and subcontractors; risks associated with international operations and foreign currency fluctuations, the state of the U.S. and global economies in general and other risks detailed in our filings with the Securities and Exchange Commission, including the Company's most recent 10-K and subsequent 10-Qs and 8-Ks. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. HYCP
SOURCE: Hypercom Corporation
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