SAN JOSE, Calif. – VeriFone Systems Inc. and First Data Corporation have recently announced the launch of the VeriFone edition of the First Data® TransArmor™ solution for U.S. multi-lane and petroleum merchants. The TransArmor VeriFone edition is an end-to-end encryption and tokenization solution that is a result of a partnership to address retailers’ need for enhanced payment security.

First Data customers using VeriFone's Secure PumpPay and MX series of EMV and NFC-enabled devices will be able to take advantage of a complete security solution combining VeriFone's VeriShield encryption along with tokenization technology from RSA, the Security Division of EMC. Cardholder data benefits from increased protection “in-flight” from the moment it enters the merchant environment — whether indoors or at the pump — all the way to the data center, utilizing VeriFone's hardware-fortified and format-preserving encryption technology.

"Data breaches are a widespread problem with over 1.1 billion records compromised in the last 10 years and the average organizational cost estimated at $5.4 million,” said Paul Kleinschnitz, senior vice president, cyber security solutions, First Data. "This partnership with VeriFone on the TransArmor solution illustrates our commitment to collaborate with industry experts to bring best-in-class security solutions to new markets such as petro.”

Two petroleum and convenience retailers, including Robinson Oil Corporation and a major U.S.-based brand of filling stations, will pilot the solution for end-to-end encryption and tokenization of cardholder data captured at the counter and at the pump, beginning in July 2014.

“Being the first to bring end-to-end encryption and tokenization to the petro space, especially in a way that enhances security at the pump — an unattended site vulnerable to the types of attacks seen in recent headlines — demonstrates our commitment to addressing security needs beyond encryption,” said Dan Yienger, senior vice president and general manager of petroleum for VeriFone. “This solution enhances our offerings to the retail petroleum industry while serving as a testament to our leadership in payment security innovation.”