RESTON, Va.--(BUSINESS WIRE)--Transaction Network Services (NYSE:TNS) is playing an increasing role in helping acquirers and merchants protect sensitive cardholder information as payment transaction security continues to be a major issue for everyone involved in the industry.
“VeriShield Protect has been designed to help retailers secure their customer’s cardholder data where they are most vulnerable and we’re very pleased that, in conjunction with TNS, it is being deployed at even more stores across the US.”
The TNS suite of security solutions, which can help merchants and payment processors mitigate their compliance overheads, includes an end-to-end encryption service which is currently being deployed by at least one major retailer in the US.
In its more than 100 stores, this retailer has deployed the TNS Managed POS Encryption solution coupled with VeriShield Protect from VeriFone Systems, Inc. (NYSE: PAY) to eliminate the transmission of “clear” cardholder data within its payment network environment. This will protect its customers’ cardholder data from the point-of-sale terminal through to its payment processor, dramatically reducing risk exposure and simplifying the retailer’s ability to achieve PCI compliance.
John M. Perry, General Manager of the Americas for TNS’ Payments Division, said: “We are delighted that this tier one retailer is now using our Managed POS Encryption solution. End-to-end encryption is an important approach for retailers to consider as they are devising their overall security plans. Criminals are coming up with more creative ways to steal sensitive cardholder data and TNS’ end-to-end encryption service allows retailers to deploy the highest levels of security, right from the moment data is read from the customer’s card.
“Our unique approach to deploying the encryption technology will also allow retailers to reduce the scope of their overall compliance efforts, leading to significant cost and complexity savings. The TNS service manages the delivery of the payment transactions from the merchant to the processor, while ensuring efficient decryption en route, so retailers have limited up-front capital expense and do not need to commit ongoing personnel, management or maintenance resources to support it.”
VeriFone’s VeriShield Protect is deployed at the retailer’s POS devices and uses state of the art encryption technology to secure the information as the card is swiped. The TNS Managed POS Encryption solution transports encrypted transactions through to the TNS PCI DSS certified global backbone network. The solution then manages the decryption process, message formatting and secure delivery of the transaction to the retailer’s payment processor.
Jeff Dumbrell, VeriFone Executive Vice President, said: “Cardholder data breaches can easily result in costs in the millions of dollars, in addition to the damaging impact on a retailer’s reputation. Studies indicate that the vast majority of breaches are tied to cash register and other POS process vulnerabilities, but retailers cannot maintain constant vigilance over every access point and every place where data is stored or transported.
“VeriShield Protect has been designed to help retailers secure their customer’s cardholder data where they are most vulnerable and we’re very pleased that, in conjunction with TNS, it is being deployed at even more stores across the US.”
Multiple high capacity VeriShield Protect Decryption Gateways are located within geographically diverse TNS data centers, using dynamic alternate routing capabilities to ensure transactions are processed quickly and securely. A web based management portal is also available, providing near real-time updates on the delivery status of encrypted transactions.
For further information about TNS and VeriFone visit www.tnsi.com and www.verifone.com
About Transaction Network Services
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions.
TNS’ offers a broad range of networks and innovative value-added services which enables transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 40 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
For further information about TNS, visit www.tnsi.com. ‘One Connection, A World of Opportunities’
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