Merchant Link Launches TransactionVault(TM), an Innovative POS Security Solution to Combat Hackers
November 06 2006 - 11:51AM
PR Newswire (US)
Developed in Conjunction with MICROS, New Technology Eliminates the
Vulnerability of Consumer Data, Can Save Businesses from Millions
in Fines SILVER SPRING, Md., Nov. 6 /PRNewswire/ -- Merchant Link,
a company that provides comprehensive, secure solutions to the
integrated point-of-sale industry, today announced the launch of
TransactionVault(TM), an innovative security solution that
addresses the problem of safeguarding consumers' personal data at
the merchant location. Most integrated payment systems store
sensitive credit card data at the merchant location, opening up the
potential for security breaches where cardholder data could be
compromised. TransactionVault(TM) uniquely addresses this problem
by removing data from a merchant's POS system to Merchant Link's
monitored, secure and fully PCI compliant environment. A data
breach poses significant monetary and reputational risk to the
business storing the information. In fact, according to a 2006
study by the Ponemon Institute, an independent research group, data
breaches can cost companies as much as $5 million per incident.
Corporate reputations also can suffer. In addition, a recent
Merchant Link survey of merchants in the restaurant and lodging
industries found that nearly two thirds (61 percent) of respondents
are not fully aware of the Card Associations' compliance standards.
Known as PCI-DSS compliance, these standards are applicable to any
business, regardless of size, that accepts a payment card and there
can be significant fines for non-compliance. "Most businesses are
started because an entrepreneur has a dream to sell a product or
service. These people are not in the business of data security,"
said the President of Merchant Link, Chris Justice. "By removing
the sensitive data from the merchant's system, TransactionVault(TM)
mitigates the cost and risk of managing personal data and complying
with the many complicated PCI security standards to which merchants
must adhere." TransactionVault(TM) is launched in partnership with
MICROS Systems, Inc. (NASDAQ:MCRS), the world's leading developer
of enterprise applications serving the hospitality and specialty
retail industries. TransactionVault(TM) will be compatible with
MICROS's industry-leading Restaurant Enterprise Series Solution for
Versions 3.2 and 4.1, making it a sensible solution for numerous
restaurateurs. MICROS is in the process of obtaining PABP (Payment
Application Best Practices) certification for TransactionVault(TM)
with both RES v3.2 and v4.1. "As a leader in information
technology, we are committed to providing our customers with the
most advanced security solutions on the market," stated Tom
Giannopoulos, Chairman and CEO of MICROS Systems, Inc. "Merchant
Link's TransactionVault(TM) technology is an unparalleled solution
to the payments industry that complements our point-of-sale
offering to clients." The TransactionVault(TM) concept has been
well-received within the payments industry with a prominent
industry analyst praising TransactionVault(TM) as an "elegant
solution." Today's announcement comes in tandem with the unveiling
of the product at this year's annual international Foodservice
Technology Exposition (FS/TEC) held in Long Beach, California and
produced by Nation's Restaurant News. About Merchant Link, LLC
Merchant Link provides comprehensive, secure solutions to the
integrated point-of-sale industry, including high-end technical
support and data transport services. Merchant Link currently
supports more than 100,000 hotels, restaurants, ballparks, and
other venues, and maintains connectivity to the major US payment
card processors. Founded in 1993 and headquartered in Silver
Spring, MD, Merchant Link handles more than a billion transactions
annually. Merchant Link has clients in all 50 states, Antarctica,
Canada, Bermuda, South Korea and Japan. Visit
http://www.merchantlink.com/ for more information. About MICROS
MICROS Systems, Inc. provides enterprise applications for the
hospitality and retail industries worldwide. Over 220,000 MICROS
systems are currently installed in table and quick service
restaurants, hotels, motels, casinos, leisure and entertainment,
and retail operations in more than 130 countries, and on all seven
continents. In addition, MICROS provides property management
systems, central reservation and customer information solutions
under the brand MICROS-Fidelio for more than 20,000 hotels
worldwide, as well as point-of-sale and loss prevention products
through its subsidiary Datavantage for more than 50,000 specialty
retail stores worldwide. MICROS stock is traded through NASDAQ
under the symbol MCRS. For more information on MICROS and its
advanced information technology solutions for the hospitality
industry, please contact Louise Casamento, Vice President of
Marketing at (443) 285-8144 or (866) 287-4736. You can also visit
the MICROS website at http://www.micros.com/ or send an email to .
DATASOURCE: Merchant Link CONTACT: Annie Godwin of Ketchum,
+1-646-935-4168, , for Merchant Link Web site:
http://www.merchantlink.com/ http://www.micros.com/
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