Magazine article American Banker

First Data, AJB Partner to Secure Payments at the Point of Sale

Magazine article American Banker

First Data, AJB Partner to Secure Payments at the Point of Sale

Article excerpt

Byline: Penny Crosman

As traditional and emerging payment providers scrap over many aspects of the mobile payments infrastructure being built in the U.S., the top concern for consumers and industry leaders for emerging payments of all types continues to be security.

One solution out there, First Data's TransArmor, has been making headway with merchants. Under the TransArmor service, when the consumer swipes a card at a payment terminal, his account information is immediately replaced in the merchant's system with a token number that fraudsters should find useless and end-to-end encryption is provided for the transaction. Because the merchant is not holding on to the customer's information, it's theoretically less responsible for security, less vulnerable to an Epsilon-style data breach and less bound to the requirements of the Payment Card Industry Council's data security standard. The TransArmor technology has been out for two years and is used by 230,000 merchants. It also works with some mobile payment technologies such as VeriFone's PAYware Mobile. It could be integrated with newer mobile payment technologies such as Square and PayPal's new Triangle device, although it hasn't been yet.

AJB, a Toronto-based provider of payment processing software to merchants a 20 of the top 100 North American retailers are among its clients and its software runs on 300,000 POS devices a plans to start offering First Data's TransArmor security software with its next upgrade.

"For us, this is about continuing to stay ahead of customer demands," says Pat Polillo, vice president of sales at AJB Software. "Security of cardholder data is top of mind with retailers. Since 2002, we've seen an emphasis on securing a consumer's card so it's protected at all times, be it in flight or in storage. …

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