Hypercom and Voltage Security Team to Defend Payment Card Data and Merchant Brand Reputation with End-to-End Security
SCOTTSDALE, Ariz., and PALO ALTO, Calif., October 27, 2009 – Hypercom Corporation (NYSE: HYC) and Voltage Security, the global leader in end-to-end data protection, today announced that Hypercom, a charter member of the Voltage SecureData Open License Program, will develop an end-to-end encryption point-of-sale (POS) solution that protects cardholder data at the point of card usage and through the payment flow to payment processor or card issuer hand-off. The new Hypercom offering, with Voltage SecureData, will provide merchants with an end-to-end data protection solution for data in transit and data at rest that significantly reduces Payment Card Industry Data Security Standard (PCI DSS) audit scope and meets or exceeds the recently published Visa Best Practices for Data Field Encryption.
The new Voltage SecureData Open License Program is a zero-cost licensing approach designed to dramatically lower the barrier to implementing end-to-end encryption on point-of-sale (POS) devices, Electronic Cash Registers (ECRs) and eCommerce Payment platforms.
“This new offering delivers effective and affordable data protection that is quickly and easily implemented to sharply reduce data breaches and compliance costs. We selected Voltage as our preferred partner because of their momentum in signing new merchants and payment processors. The ability to quickly deploy this end-to-end data protection solution to our customers will fortify our leadership in payment security,” said TK Cheung, Vice President, Global Quality and Security, Hypercom Corporation.
“Hypercom is widely recognized as a global payment technology innovator and is committed to raising the data security standards within the electronic payments industry,” said Mark Bower, Vice President of Product Management for Voltage Security. “By selecting Voltage, Hypercom will be delivering complete end-to-end security across the widest variety of merchant and processor enterprises.”
With Hypercom’s offering, payment card primary account numbers (PANs) and other sensitive data are encrypted at the merchant’s payment device. This protection continues through payment processor or card issuer hand-off.
Powered by Voltage’s breakthrough Format-Preserving Encryption and Voltage Identity-Based Encryption technologies, Hypercom’s offering will dramatically simplify the deployment and administration of encryption and key management.
Hypercom’s offering will be implemented across Hypercom’s product line, offering the following advantages to merchants:
- Cardholder data is encrypted immediately at point of capture and remains protected end-to-end.
- Key management is simplified – no need to inject keys into devices or manually rotate encryption keys.
- End-to-End Encryption can be applied across the widest range of form factors.
About Voltage Security (www.voltage.com)
Voltage Security, Inc., an enterprise security company, is an encryption innovator and global leader in end-to-end data protection. Voltage solutions, based on next generation cryptography, provide end-to-end encryption, tokenization, masking and stateless key management for protecting valuable, regulated and sensitive information based on policy. Voltage products enable reduction in PCI audit scope with rapid implementation and the lowest total cost of ownership in the industry through the use of award-winning cryptographic solutions, including Voltage Identity-Based Encryption (IBE) and a new breakthrough innovation: Format-Preserving Encryption (FPE). Offerings include Voltage SecureMail, Voltage SecureData, Voltage SecureFile and the Voltage Security Network (VSN), an on-demand managed service for the extended business network.
As a service to the industry and general public, the company maintains the Voltage Data Breach Index and Map which is continuously updated with global data breach information: www.voltage.com/data-breach. The Company is active in the standards community and is a PCI Security Standards Council Participating Organization and is a member of the Secure POS Vendor Alliance (SPVA). Voltage has also been issued several patents based upon breakthrough research in mathematics and cryptographic systems. Customers include Global 1000 companies in banking, retail, insurance, energy, healthcare and government. To learn more about Voltage customers and sign up for the customer news letter please visit www.voltage.com/customers.
About Hypercom (www.hypercom.com)
Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products and services. The Company’s solutions address the high security electronic transaction needs of banks and other financial institutions, payment processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.
Voltage Identity-Based Encryption, Voltage Format-Preserving Encryption, Voltage SecureMail, Voltage SecureFile, Voltage SecureData and the Voltage Security Network (VSN), are registered trademarks of Voltage Security, Inc. All other trademarks are property of their respective owners.
Hypercom and Optimum & Design are registered trademarks of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners. This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding market acceptance of new products, product capability and performance, product competitiveness, product sales, revenues and profits, market share, and expected acquisition results and benefits. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; compliance with industry standards, certifications and government regulations; the performance of suppliers, contract manufacturers and subcontractors; the ability to successfully integrate the technologies, operations and personnel of acquired businesses in a timely manner; the ability to obtain the expected strategic and financial benefits from acquisitions; risks associated with international operations and foreign currency fluctuations, the state of the U.S. and global economies in general and other risks detailed in Hypercom’s filings with the Securities and Exchange Commission, including the Company’s most recent 10-K and subsequent 10-Qs and 8-Ks. Forward-looking statements speak only as of the date made and are not guarantees of future performance. Hypercom undertakes no obligation to publicly update or revise any forward-looking statements.