Data security: Chase Paymentech opts for VeriShield Protect
- VeriFone announces that the payment acquirer and processor Chase Paymentech, a JPMorgan Chase subsidiary, opted for its end-to-end encryption solution VeriShield Protect, to complement its fraud prevention and encryption solution, Safetech Fraud and Security Solutions.
- VeriShield Protect can either be hosted by a processor, or, on-site, or, even, by VeriFone.
- VeriFone also explains that adopting an end-to-end encryption solution helps reduce PCI-DSS compliance costs and procedures. End-to-end encryption implies that the intermediary systems cannot decrypt any data considered sensitive by PCI standards; these systems do not have to fit in the scope of the PCI audit. Also, these kinds of implementation processes impose other limits and their relevance must be assessed according to the considered environment. In addition, at the end of October 2010, VeriFone Systems and RSA announced a strategic partnership to sell their end-to-end encryption and tokenization solutions, VeriShield Total Protect.
See November 2010 Watch