Elavon Launches New P2P Encryption and Tokenization
Elavon-subsidiary of U.S. Bancorp and a leading global payments provider- released its “SAFE-T Suite” Secure and Flexible Encryption and Tokenization portfolio. Allowing companies to protect data at every point in transaction use, in transit and at rest “SAFE-T Suite” eases the burden of PCI compliance audits and helps reduce the total cost of card acceptance. It supports point-to-point encryption and protects data from the earliest point in the transaction lifecycle with VeriFone hardware-based tamper-resistant security module. Actual cardholder data never enters the payment stream, substantially mitigating the complexities of PCI compliance while meeting stringent security standards. Aside from card data encryption, the “SAFE-T Suite” also supports tokenization with a unique Token ID that replaces cardholder data on the response transaction, protecting data at rest and allowing subsequent transactions and adjustments to be securely processed.
