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|Fifth Third Processing Solutions Announces Enterprise Security and Encryption|
|Posted: Fri May 21, 2010 03:00:00 PM|
Premier Payments Company Protecting Cardholder Data; End-to-End Encryption and Tokenization for Complex Multi-lane Environment to Single Terminal.
- March 17, 2010 – Fifth Third Processing Solutions, a premier full-service payment solutions provider, has designed a solution that encrypts critical payment and cardholder data at the front end of the payments process and maintains the security of that data through all of the processor systems. Fifth Third Processing Solutions’ data security solution will provide a single platform for both end-to-end encryption and tokenization to help merchants remove sensitive card data from authorization systems as well as back office business applications.
Long known as a payments advocate for the merchant community, Fifth Third Processing Solutions is working with Voltage Security, Inc., a global leader in security solutions, to offer several new customer solutions focused on the protection of sensitive cardholder information. Fifth Third Processing Solutions selected Voltage for the superior flexibility of the product offering. This includes their effective and simplified key management structure, their advanced encryption methodology, and their format-preserving encryption technology which reduces the amount of development needed to manage the encrypted data values.
“Serving both the large and small merchant community, it is critical that we provide a solution that protects sensitive data, is cost effective to install and operate, and reduces the PCI scope and cost for our valued customers,” commented Donald Boeding, President, Merchant Services at Fifth Third Processing Solutions. He continued, “We also needed a solution that not only worked in a single terminal environment but could handle complex multi-lane key management. The Voltage solution accomplishes all of these objectives. Additionally, by utilizing Voltage’s innovative format-preserving encryption technology, we are able to minimize integration work at the merchant’s Point-of-Sale system.”
“Partnering with Voltage is another key step in the continuous execution of our Data Protection strategy because their technology easily integrates on so many platforms,” added Bob Bartlett, Chief Information Officer at Fifth Third Processing Solutions. “We also believe that due to the unique way in which Voltage encryption keys are created and managed, merchants will not experience significant increased ongoing operational support costs. This is something that is often overlooked when merchants are assessing security options. “
Fifth Third Processing Solutions expects to begin deploying end-to-end encryption and tokenization solutions with both complex national merchants as well as small regional merchants. As the market for payment security solutions evolves, Fifth Third Processing Solutions will expand their suite of security solutions to meet the growing demand.