Elavon's Simplify Application Makes Payment Security for Mid-to-Large Size Businesses Simple
March 03 2015 - 9:00AM
Business Wire
Application pre-certified for EMV prior to Oct.
2015 liability shift deadline
Elavon, a leading global payments provider and subsidiary of
U.S. Bancorp (NYSE: USB), now offers EMV with its Simplify payment
application. The application is pre-certified for EMV prior to the
October 1, 2015 liability shift deadline, when non-EMV-enabled
businesses and card issuers will assume responsibility for any
fraud that occurs.
EMV, or “Europay MasterCard Visa,” is a globally accepted card
standard that uses an embedded microchip to provide unique data
protection when the card is inserted into a chip-card reader. The
Smart Card Alliance estimates that 45 percent of the world’s
payment cards (outside of the U.S.) are currently chip enabled, and
card use in the U.S. is expected to exceed 76 percent by 2016.
Certification requires businesses to provide adequate EMV coding
via an acquirer for all payment elements, including the PIN-enabled
device, point of sale (POS) terminal, payment gateway and third
party processor as well as for each card scheme.
“The industry has reached a critical point where businesses can
no longer avoid having security measures in place to keep them safe
from fraud and data breaches,” said Marianne Johnson, Elavon’s
global executive vice president of product and innovation. “Having
a pre-certified solution gives us the opportunity to help reduce
the complexity of implementing EMV as well as enable value added
resellers, agents and solution providers to accelerate their
efforts.”
Simplify is a software application that resides within a payment
terminal that is integrated with a customer’s current POS or
Property Management System (PMS). The application uses a layered
approach to security that combines encryption, tokenization and EMV
to mitigate vulnerabilities while cardholder data is in-transit,
in-use and at-rest. Simplify securely encrypts card data and sends
the transaction to Elavon’s Fusebox Gateway, where a token is
created and returned to the payment terminal. Concurrently, the
EMV-enabled application uses advanced algorithms contained on a
CHIP card to authenticate that the card is not counterfeit when
it’s used at the payment terminal. Within seconds, sensitive
cardholder data is easily isolated from a business’s payment system
and the card is verified as legitimate.
White Castle, a family-owned business that owns and operates
more than 400 restaurants in 12 states in the U.S., recognized the
prevalence of restaurant data breaches and recently integrated
Elavon’s Simplify application to proactively reduce threats of
cardholder data theft (Click here to download the White Castle case
study).
“Because Elavon’s advanced payments security removes card data
from our POS systems, our PCI efforts are greatly reduced. We
project saving at least 50 percent in terms of PCI validation costs
and resource consumption,” said Randy Embree, director of
information technology for White Castle.
Experience Overseas Helped U.S. EMV
ImplementationAccording to a recent Mercator Advisory Group
report, savings from counterfeit fraud prevention across all
issuers could total as much as $700 million in the U.S. annually.
Implementing a layered approach to security is an industry best
practice based on lessons learned from other countries. A leading
acquirer around the world, Elavon has implemented EMV strategies
for businesses in Europe, Canada and Puerto Rico.
Johnson added, “The most important thing we learned from our EMV
rollout efforts in other countries is that businesses must be
vigilant in fraud protection because criminals will continue to
evolve their tactics. While EMV is not a silver bullet, it is an
integral part of the multi-layered approach to security we have
today.”
About Elavon (www.elavon.com)
Elavon is wholly owned by U.S. Bancorp (NYSE: USB) and provides
end-to-end payment processing solutions and services to more than
1.3 million customers in the United States, Europe, Canada, Mexico,
Brazil and Puerto Rico. As the #1 provider for airlines and a top
five provider for hospitality, healthcare, retail, and public
sector/education, Elavon’s innovative payment solutions are
designed to solve pain points for businesses from small to
enterprise-sized.
ElavonDana Stone, 303-809-2199dana.stone@elavon.com
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