ATLANTA--(BUSINESS WIRE)--Ensuring a seamless customer experience is essential to running a successful business. Today that experience includes feeling as secure as possible when a card is swiped at checkout. As the number of data breaches skyrockets across the country, small and medium-sized businesses (SMBs) especially are struggling to find ways to protect their businesses, data and reputations. With 90 percent of data breaches impacting small businesses and the average data breach costs continuing to escalate, SMBs are most at risk. Luckily, waging the war on cyber-crime just got easier as First Data, the global leader in payment technology and services solutions, today announced its improved TransArmor® Solution for small businesses.
First Data’s enhanced TransArmor Solution protects payment card data from the moment the card is swiped throughout the entire transaction process, incorporating several security and compliance products into one multi-layered, comprehensive solution. Now, SMB owners can operate their businesses with confidence, knowing their customers’ information is safeguarded.
“It’s challenging for small business owners to keep up with protecting their customers' data from increasingly sophisticated cyber danger and ensure constant compliance when they are so consumed with running a business,” said Guy Chiarello, First Data president. “First Data’s TransArmor Solution makes the latest transaction protection technologies accessible and affordable for small businesses. It offers an unprecedented level of cyber confidence, while making it easier than ever to stay compliant. To date, TransArmor has helped protect more than three billion transactions so funds can, and do, move quickly and securely.”
Integrating the most up-to-date protection available with a $100,000 liability waiver, the TransArmor Solution provides robust data security while simultaneously mitigating risk. It also reduces liability, enabling SMB owners to focus on day-to-day operations and growing their businesses. Given the influx of new and emerging data security threats, such as malware and data breaches, the TransArmor Solution protects cardholder data using end-to-end encryption and tokenization technology. Real card information is never in a merchant’s point-of-sale (POS) system, which prevents the data from ever being exposed. The solution can be easily integrated into all First Data POS terminals, including the revolutionary Clover™ Station and other third party providers.
The TransArmor Solution package also provides easy options to help businesses stay compliant with evolving payment industry rules, as outlined by the PCI Security Standards Council. It includes a $100,000 liability waiver for maximum business protection, downloadable software to help monitor POS systems and around-the-clock customer support. The TransArmor Solution also reduces risk and liability, enabling SMB owners to focus on day-to-day operations and growing their businesses. The solution is EMV-compatible to prevent against the use of fraudulent credit cards, and is fully compatible with ApplePay and other forms of mobile payment.
“Since the cyber threat landscape is always evolving, it’s imperative to have the most up-to-date protection available,” said Stephen W. Orfei, general manager, PCI Security Standards Council. “Small businesses are prime targets for cyber criminals looking for vulnerabilities, but using a multilayered security solution will significantly reduce an SMB’s risk of a breach.”
With the TransArmor Solution, First Data has fundamentally changed the way merchants protect and manage cardholder data so funds can be transferred safely and quickly. By incorporating multi-layered security and compliance tools in one comprehensive solution to protect business and customer information, First Data’s TransArmor® Solution offers an unparalleled level of cyber protection that provides small business owners with peace of mind as they focus on running and growing their businesses.
About First Data
First Data is a global technology leader in the financial services industry. With 24,000 employee-owners and operations in 35 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world, from small businesses to the world’s largest corporations. Today, businesses in nearly 70 countries trust First Data to secure and process more than 2,000 financial transactions per second, totaling $1.8 trillion a year. First Data’s unparalleled infrastructure, scale and partnerships go “beyond the transaction” with next-generation point-of-sale technology fueled by powerful analytics to detect fraud, gain insights into consumer spending, and strengthen customer loyalty. All day, every day, First Data helps its clients thrive in the evolving world of commerce.