VeriFone Systems and First Data are launching a solution that addresses payment security at gas stations and convenience stores.
TransArmor is an end-to-end encryption and tokenization product that captures cardholder data at the counter and at the pump. The product combines Verifone's VeriShield encryption along with tokenization technology from RSA, which is the security division of EMC.
First Data customers who use VeriFone's Secure PumpPay and MX series of EMV and NFC-enabled devices will have access to TransArmor. Most U.S. merchants must begin accepting EMV-chip cards by October 2015 to avoid a shift in fraud liability, but gas stations have an extra two years.
"This partnership with VeriFone illustrates our commitment to collaborate with industry experts to bring best-in-class security solutions to new markets such as petro," says Paul Kleinschnitz, senior vice president of cyber security solutions at First Data, in an April 29 news release.
Robinson Oil Corp. and another company will pilot the solution starting in July. The other company was not named in the release.
"Petroleum and convenience store retailers have been increasingly focused on bolstering payment security, especially in light of recent breaches in the headlines," says Tom Robinson, president of Robinson Oil Corp., in the release. "We now have the means to enhance cardholder data protection long before the 2017 EMV deadlines take effect for transactions at gas pumps."