Coalfire Affirms PCI 3.0 Assessment of Verifone Payment Encryption Solution
May 20 2015 - 08:00AM
Business Wire
Verifone (NYSE: PAY) today announced that Coalfire Systems, a
respected Payment Card Industry Qualified Security Assessor (PCI
QSA), has completed an evaluation of Verifone’s end-to-end
encryption and tokenization solution against PCI Data Security
Standard (DSS) requirements.
In its report, Coalfire describes how VeriShield Total Protect,
secured by RSA, “can nearly eliminate the current risk of payment
card data compromise within a merchant’s retail environment and can
dramatically reduce how many PCI DSS requirements need to be
validated when properly deployed.”
ONE OF THE MOST EFFECTIVE DATA SECURITY CONTROLS
VeriShield Total Protect protects merchants, payment providers
and consumers alike by encrypting cardholder information from the
moment it is captured at the terminal until it is securely accessed
behind a processor’s firewall. It is used by more than 250 of the
top merchants and nine of the top 10 payment processors in the
U.S., and it is the most-widely adopted payment data encryption
solution in the U.S.
“One of the reasons Verifone has been a leader in global payment
solutions and commerce enablement for more than 30 years is because
security is in our DNA,” said Joe Majka, chief security officer for
Verifone. “Our best-in-class payment solutions and services meet or
exceed global security standards and help our clients securely
accept electronic payments across all channels of commerce. This
assessment from Coalfire—perhaps one of the most renowned IT
security advisors and auditors out there—speaks to the security
capabilities of VeriShield Total Protect, as well as Verifone’s
continued efforts to reduce merchants’ growing exposure to data
breaches and more aggressively safeguard consumer information.”
A versatile and flexible solution, VeriShield Total Protect has
successfully safeguarded billions of transactions from the ever
increasing proliferation of malware. As one of the most effective
data security controls available to merchants today—especially when
used as part of a multi-layered approach to security with EMV and
Secure Commerce Architecture, VeriShield Total Protect:
- Reduces the PCI DSS controls that
merchants are responsible for validating in their retail and
corporate environments
- Works with the widest range of payment
technologies, including mag-stripe, contactless, NFC and EMV
- Easily integrates with retail systems
and applications with little or no disruption and with minimal
impact on point of sale (POS) systems
- Uses proven, random-number
tokenization, allowing retailers to store substituted tokens,
rather than actual card data, for safer analytics, chargeback
processing, loss prevention and more.
COMPLETE POS INSTALLATION ASSESSMENT
Coalfire utilized industry best practices in its VeriShield
Total Protect assessment and testing methodologies. Technical lab
testing was conducted by Coalfire in both of its labs located in
Louisville, Colo., and at Verifone’s labs in San Diego, Calif., and
included complete POS installation, integration, transaction
testing, device assessment, encryption evaluation and forensic
analysis.
A white paper describing how VeriShield Total Protect can be
used is available here.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 for VeriFone Systems, 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 on currently available
competitive, financial and economic data 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 Systems, Inc., including many factors beyond our control.
These risks and uncertainties include, but are not limited to,
those associated with: market acceptance of our product and
services offerings, execution of our strategic plan and business
initiatives and whether the expected benefits of our plan and
initiatives are achieved, short product cycles and rapidly changing
technologies, our ability to maintain competitive leadership
position with respect to our payment solution offerings, our
assumptions, judgments and estimates regarding the impact on our
business of the continued uncertainty in the global economic
environment and financial markets, our ability to successfully
integrate acquired businesses into our business and operations, our
ability to protect against fraud, the status of our relationship
with and condition of third parties such as our contract
manufacturers, distributors and key suppliers upon whom we rely in
the conduct of our business, our dependence on a limited number of
customers, the conduct of our business and operations
internationally, our ability to effectively hedge our exposure to
foreign currency exchange rate fluctuations, and our dependence on
a limited number of key employees. For a further list and
description of the risks and uncertainties affecting the operations
of our business, 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. The forward-looking statements
speak only as of the date such statements are made. 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 Coalfire
Coalfire is the global technology leader in cyber risk
management and compliance services for enterprises and government
organizations. Coalfire’s professionals are renowned for their
technical expertise and unbiased assessments and recommendations.
Coalfire’s approach builds on successful, long-term relationships
with clients to achieve multiple compliance objectives tied to a
long-term strategy to prevent security breaches and data theft.
Headquartered in Denver, with offices in North America, the United
Kingdom and Latin America, Coalfire remains a pioneer in cyber risk
management solutions. For more information, visit the company’s
website at www.coalfire.com.
About Verifone
Verifone is transforming everyday transactions into
opportunities for connected commerce. We’re connecting more than 27
million payment devices to the cloud—merging the online and
in-store shopping experience and creating the next generation of
digital engagement between merchants and consumers. We are built on
a 30-year history of uncompromised security. Our people are known
as trusted experts that work with our clients and partners, helping
to solve their most complex payments challenges. We have clients
and partners in more than 150 countries, including the world’s
best-known retail brands, financial institutions and payment
providers.
Verifone.com | (NYSE: PAY) | @verifone
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VerifoneAlex Shorter,
+1-770-754-3608Alex.shorter@verifone.com
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