August 11, 2009
SAN JOSE, CA – August 11, 2009 -
VeriFone Holdings, Inc. (NYSE: PAY) today announced that RBS WorldPay,
the fastest growing top ten payment processor in the US, has agreed to
work jointly and expeditiously towards marketing VeriFone’s VeriShield
Protect end-to-end solution for encrypting payment card data.
RBS WorldPay is the first merchant acquirer to endorse a commercial
end-to-end encryption solution. By encrypting the card number on swipe,
right at the point of sale, RBS WorldPay merchants who choose the
VeriShield Protect solution will be able to dramatically reduce both
their own risk and that of their customers as well.
“RBS WorldPay merchants and prospects are telling us they want to
significantly reduce the impact of PCI compliance on their business -
and they want a solution their processor endorses,” said Ian Stuttard,
president and CEO of RBS WorldPay. “VeriShield Protect will easily
integrate into multi-lane retailers’ existing systems and networks.”
VeriFone’s VeriShield Protect eliminates usable cardholder data from the
merchant’s POS applications, networks and servers, using AES-level
encryption that preserves existing card track data formats so it works
transparently with retailers’ existing payment infrastructure.
“RBS WorldPay is taking a leadership position in addressing merchant
concerns with potential liability over data breaches and the complexity
of complying with card issuer requirements,” said Douglas Bergeron,
VeriFone, CEO. “Using VeriShield Protect’s true hardware-fortified
end-to-end encryption, usable card data can be removed from the merchant
environment, eliminating the leading source of compromise.”
With end-to-end encryption, even in the event of a breach of the
retailer’s system, any stolen data would be unusable. Because VeriShield
Protect preserves the format of the card data there is no need to
redesign the POS applications to deal with a new data format. In
addition to encrypting card data, VeriShield Protect monitors all
systems in real time at the device level via VeriShield Secure Device
Management Service (VSDMS), so if a breach occurred the retailer would
be immediately alerted. In addition, data encryption keys can be managed
remotely as part of the device management service.
About VeriFone Holdings, Inc. (www.verifone.com)
VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in
secure electronic payment solutions. VeriFone provides expertise,
solutions and services that add value to the point of sale with
merchant-operated, consumer-facing and self-service payment systems for
the financial, retail, hospitality, petroleum, government and healthcare
vertical markets. VeriFone solutions are designed to meet the needs of
merchants, processors and acquirers in developed and emerging economies
worldwide.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 for VeriFone Holdings, Inc.:
This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on management's current expectations or
beliefs and are subject to uncertainty and changes in circumstances.
Actual results may vary materially from those expressed or implied by
the forward-looking statements herein due to changes in economic,
business, competitive, technological and/or regulatory factors, and
other risks and uncertainties affecting the operation of the business of
VeriFone Holdings, Inc. These risks and uncertainties include: our
ability to successfully manufacture, distribute, market and sell the
MX880 and related software applications, our customers' acceptance and
adoption of our newly released products and applications, our ability to
protect against fraud, the status of our relationship with and condition
of third parties upon whom we rely in the conduct of our business, our
dependence on a limited number of customers, uncertainties related to
the conduct of our business internationally, our dependence on a limited
number of key employees, short product cycles, rapidly changing
technologies and maintaining competitive leadership position with
respect to our payment solution offerings. For a further list and
description of such risks and uncertainties, see our filings with the
Securities and Exchange Commission, including our annual report on Form
10-K and our quarterly reports on Form 10-Q. VeriFone is under no
obligation to, and expressly disclaims any obligation to, update or
alter its forward-looking statements, whether as a result of new
information, future events, changes in assumptions or otherwise.
About RBS WorldPay
RBS WorldPay is a leading, single-source provider of electronic payment processing services – including credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services.
RBS WorldPay is the US-based payment processing division of the Royal Bank of Scotland Group plc. For more information, please
please visit www.rbsworldpay.us.
About The Royal Bank of Scotland Group (RBS)
The RBS Group is a financial services company providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. The RBS Group operates in the Americas, Asia and the Middle East serving more than 40 million customers.
Media Contacts
RBS WorldPay
800.200.5965, x. 1210
media@rbsworldpay.us
