Elavon Gives Customers and Partners Enhanced Protection from Data Breaches with PCI Point-to-Point Encryption (P2PE) Validation
April 24 2018 - 10:00AM
Business Wire
Elavon, a leading global payments provider and subsidiary of
U.S. Bancorp (NYSE:USB), today announced its Safe-T Link® with P2PE
Protect received validation as a Payment Card Industry (PCI)
Security Standards CouncilTM Point-to-Point Encryption (P2PE)TM
solution. Receiving this level of validation gives Elavon customers
the strongest encryption protection by making data less valuable if
stolen. The validation underscores Elavon’s commitment to be the
most trusted choice for businesses looking for a payments
partner.
Adding to Elavon’s Safe-T Security Solutions, Safe-T Link with
P2PE Protect helps protect businesses from the increasing number of
complex breaches, as well as assisting businesses with managing
card industry data protection mandates and reducing the high costs
associated with maintaining PCI compliance.
According to the Identity Theft Resource Center, in 2017 there
were 1,579 breaches with nearly 1.8 billion records exposed. Add to
that, IBM and Ponemon’s 2017 The Cost of a Data Breach report,
which estimated the average cost of a data breach at $3.62 million.
Non-compliance can also result in enormous fines and penalties.
Elavon’s Safe-T Link with P2PE Protect helps to reduce potential
losses, while ensuring customers achieve and maintain PCI
compliance. It also reduces costs and time spent on compliance
initiatives.
“We expect data breach threats to continue, which is why we have
been offering end-to-end encryption and tokenization solutions to
our customers,” said Wally Mlynarski, Elavon’s Chief Product
Officer. “The P2PE validation of our Safe-T Link solution now
allows for our customers to elevate their Safe-T solution, while
lowering their total cost of accepting payments by bringing
substantial systems to minimized scope of their PCI compliance. It
enables them to effectively defend their businesses, their
customers’ card data and their reputations against cyber
threats.”
Safe-T Link with P2PE Protect combines EMV, tokenization and
encryption to shield sensitive card payment data until it is
delivered to Elavon’s secure decryption environment. A strict chain
of custody, including secure devices, applications and processes
satisfies requirements for a validated PCI Security Standards
Council P2PE solution.
Safe-T Link, which leverages Elavon’s PCI-validated Simplify
payment application, automatically integrates into a customer’s
existing point-of-sale (POS) and property/patient management
systems (PMS). Third-party POS and PMS integrators can expect a
streamlined, expedited path to a PCI-validated P2PE
solution. A number of integrators are already certified to
Safe-T Link with P2PE Protect, and that number is expected to
grow.
To learn more about Elavon, please visit www.elavon.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180424005164/en/
ElavonCara Crifasi,
303-268-2412cara.crifasi@elavon.com
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