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Fifth Third Processing Solutions release new security, encryption solution
March 16, 2010
Fifth Third Processing Solutions has designed a solution that encrypts critical payment and cardholder data at the front end of the payments process and maintains the security of that data through all of the processor systems.
According to a news release from Fifth Third Processing Solutions, the new data security solution will provide a single platform for both end-to-end encryption and tokenization, helping merchants remove sensitive card data from authorization systems as well as back office business applications.
Fifth Third Processing Solutions is working with Voltage Security Inc. to offer several new customer solutions focused on the protection of sensitive cardholder information. The company says it selected Voltage for the superior flexibility of the product offering. That flexibility includes Voltage's effective and simplified key-management structure, advanced encryption methodology, and format-preserving encryption technology, which reduces the amount of development needed to manage the encrypted data values.
"Serving both the large and small merchant community, it is critical that we provide a solution that protects sensitive data, is cost effective to install and operate, and reduces the PCI scope and cost for our valued customers," said Donald Boeding, president of merchant services at Fifth Third Processing Solutions. "We also needed a solution that not only worked in a single terminal environment but could handle complex multilane key management. The Voltage solution accomplishes all of these objectives." Fifth Third Processing Solutions expects to begin deploying end-to-end encryption and tokenization solutions with national and regional merchants. As the market for payment security solutions evolves, Fifth Third Processing Solutions will expand its suite of security solutions to meet the growing demand.
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