TNS and Verifone to Make P2PE Technology More Accessible to Merchants

RESTON, Va.--()--A new agreement between Transaction Network Services (TNS) and Verifone has been established to help merchants enhance payment data security with streamlined, expedient point-to-point encryption (P2PE) technology deployment.

The two companies, which began working together more than six years ago, are integrating their complementary payment security solutions to provide complete end-to-end protection for in-store payment transactions. Managed POS Encryption from TNS and Verifone’s end-to-end encryption solution, VeriShield Protect, will be combined into a single interface, enabling merchants to deploy P2PE* through a faster, more efficient process.

Lisa Shipley, Executive Vice President and Managing Director of TNS’ Payment Network Solutions, said: “We’re delighted to be strengthening our relationship with Verifone to provide this acquirer-neutral solution to the marketplace. When we first began working together many years ago, we were seen as early adopters of P2PE in an industry that had yet to witness the headline grabbing data breaches of recent times. We’re proud that we had the foresight to be pioneers of this extremely beneficial technology and have continued to commit to and invest in its development.

“Verifone shares this passion, and together we have delivered many active deployments in the field and established a proven track record for success. Today’s announcement is a natural next step for us as we seek to help acquirers provide the best range of solutions to their merchants and diversify their risk by using a third-party provider for encryption services.”

TNS’ Managed POS Encryption solution offers support for Verifone’s range of popular EMV- and NFC-enabled terminals. Utilizing TNS’ PCI DSS certified backbone network, TNS’ solution uses multiple high-capacity decryption gateways located within geographically diverse data centers, supported by dynamic alternate routing capabilities, to process transactions securely and efficiently. TNS offers connectivity to more than 400 payment-specific endpoints, including major card schemes, banks, acquirers and processors globally.

VeriShield Protect from Verifone enhances TNS’ Managed POS Encryption solution by encrypting cardholder information from the moment it is captured at the terminal and keeping it encrypted until it is securely accessed behind TNS’ firewall. Used by more than 250 of the top merchants and nine of the top 10 payment processors in the US, VeriShield Protect is the most widely adopted end-to-end encryption solution in the US. VeriShield Protect encrypted more than 1.5 billion transactions in 2014 and, so far, has already encrypted more than 1.2 billion transactions this year.

Joe Majka, Chief Security Officer for Verifone, said: “We’re pleased to partner with TNS to create a seamless experience for merchants to go live with P2PE and protect sensitive customer cardholder data at the terminal and beyond. Verifone advocates a multi-layered approach to security that incorporates end-to-end encryption, and together with TNS, we can further help merchants mitigate and reduce the risk of fraud and protect customers’ payment information all while simplifying their PCI DSS compliance obligations.”

Managed POS Encryption and VeriShield Protect can be reinforced with tokenization to further strengthen the merchant payments infrastructure. Tokenization replaces cardholder data in the merchant environment with a token that can be regularly submitted to TNS when payments are due. TNS stores the cardholder information on behalf of the merchant within its secure, PCI-compliant environment. TNS’ tokenization solution is ideally suited for merchants that take recurring payments or need to store cardholder data for chargeback, or reversal and marketing analytics. It is a robust solution that is suitable for card present and card-not-present payments.

TNS is a Level 1 PCI DSS certified service provider and its secure network is supported 24x7x365 by TNS’ Network Operating Centers around the world.

With a strong payments heritage and more than 20 years of expertise, TNS now provides services in more than 60 countries across Europe, the Americas and Asia Pacific regions. For more information about TNS, please visit www.tnsi.com

ENDS

About Transaction Network Services:

Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions. TNS offers a broad range of networks and innovative value-added services, which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.

Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks, which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.

About Verifone

Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 27-million payment devices to the cloud—merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 30-year history of uncompromised security. Our people are known as trusted experts who work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.

Verifone.com | @verifone

Contacts

TNS
Clare Cockroft
PR Manager
T: +44 (0)114 292 0163
E: pr@tnsi.com
or
Jo Moorwood
Global Marketing Communications Director
+1 703 814 8065

Release Summary

A new agreement between TNS and Verifone has been established to help merchants enhance payment data security with streamlined, expedient point-to-point encryption (P2PE) technology deployment.

Contacts

TNS
Clare Cockroft
PR Manager
T: +44 (0)114 292 0163
E: pr@tnsi.com
or
Jo Moorwood
Global Marketing Communications Director
+1 703 814 8065