Data and Database Management Software
Software assures transaction security with magnetic cards.
Press Release Summary:
Ingenico On-Guard(TM) encrypts cardholder data, such as primary account number and personal information, from transaction terminal to merchant host, adding additional security layer to magnetic stripe card transactions. Incorporating MagneSafe(TM) security technology, program is available for large and small merchants and is remotely downloaded into transaction terminal. Separate decryption service allows merchant to utilize data for approval/settlement.
Original Press Release:
Ingenico Announces the First Open Architecture Implementation for Securing Cardholder Data from Terminal to Host: The Ingenico On-Guard(TM) Solution
Ingenico confirms its leadership in payment solutions by introducing a new security feature that encrypts cardholder data utilizing long- standing and proven industry security algorithms and methodologies without any change within the merchant's transaction processor's system.
ATLANTA, Jan. 7 / / - Ingenico announced that they are implementing a new open architecture security enhancement, the Ingenico On-Guard(TM) solution that will encrypt cardholder data from the transaction terminal to the merchant host, thus adding a significant security layer to card transactions that used to communicate in the clear.
The new solution will be available on the Ingenico terminals sold in North America. "With the increased amount of fraudulent activity in the electronic transaction industry, merchants require secure solutions they can trust to protect the data while in their retail systems. As the leading provider of payment solutions, Ingenico has taken the lead in producing a solution that will cause the least amount of disruption to the merchants business as well as one that is based on industry recognized and supported standards" said Lisa Shipley, SVP, Sales & Marketing, Ingenico North America.
"Unlike our competitors, Ingenico's open standard allows merchants and acquirers alike the freedom to adopt this enhanced security feature without purchasing a proprietary decryption package, or risk adopting a new encryption technology that has not proven itself in the marketplace. The security algorithms used in the Ingenico's On-Guard Solution have been backed by the financial industry for years and have proven to be more than effective in protecting sensitive and private information" continued Shipley. The Ingenico On-Guard encryption solution which incorporates MagneSafe(TM), a state-of-the-art security technology from MagTek, is available for both large and small merchants. The software is remotely downloaded into the transaction terminal without the need to swap the PIN pad for key injection. This results in a less intrusive fix as well as one that can be performed faster and at lower cost than competitive solutions.
The Ingenico On-Guard Solution secures the primary account number and personal information on the magnetic stripe card by encrypting selected information from point of entry (card swipe) to the merchants host and or the Processor directly. Once received at the merchant's host, a decryption service is provided by Ingenico so the merchant can utilize the data for their approval and settlement purposes with their transaction Processor.
Ingenico will demonstrate the Ingenico On-Guard solution at the National Retail Federation Show in New York City, January 11 and 12th, 2009.
About MagTek :
Founded in 1972, MagTek is the leading provider of technology that makes electronic transactions easier, faster, and safer. MagTek has developed many secure product lines that meet the transaction demands of retail, financial and OEM markets. MagTek's wholly owned subsidiary, Magensa, LLC provides cardholder data protection and credential authentication services. As one of the pioneers in the development of industry standards for cards, checks, and PINs, MagTek's products are used by millions of people every day at financial institutions, supermarkets, gas stations, restaurants, casinos, hotels, on airplane seatbacks, ATMs, self-service kiosks and POS terminals. Swipe, scan, dip, PIN, or slide, you're likely to find MagTek security inside. MagTek has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries.
About Ingenico
Ingenico is the world's leading provider of payment solutions, with over 15 million terminals deployed across the globe. Delivering the very latest secure electronic payment technologies, transaction management and the widest range of value added services, Ingenico is shaping the future direction of the payment solutions market.
Leveraging on its global presence and local expertise, Ingenico is reinforcing its leadership by taking banks and businesses beyond payment through offering comprehensive solutions, a true source of differentiation and new revenues streams.
More information: ingenico-us.com
Source: Ingenico Corp.
CONTACT: Ingenico, Grant Drummond, Director, Marcom Services, (416) 245-6700, grant.drummond@ingenico.com
