With its latest security software release, Vantiv is thinking small (and medium).
Yesterday (Sept. 8), the payments processor launched OmniShield Assure, a security bundle that is designed to help protect consumer credit card data, reduce the chance of fraud and enhance security to help merchants with PCI 3.1 compliance requirements. The bundle comes standard on all new terminals that Vantiv provides and includes: card data encryption, OmniToken (Vantiv’s proprietary tokenization service), PCI Assist, Breach Assist (to reduce the merchant’s financial liability in certain cases) and EMV Support.
According to research shared by Vantiv in a press release, while 61 percent of merchants are aware of the coming liability shift in October, only 29 percent are prepared to process EMV cards.
“We’re pleased that OmniShield Assure will help our customers better protect cardholder payment data and prevent counterfeit fraud,” Daniela Mielke, chief strategy and product officer at Vantiv, said in the release. “Securing the merchants’ payment environments is critical to help protect their businesses. Vantiv is leading the way when it comes to helping these businesses provide a safe shopping experience for consumers.”
She added: “We know that businesses see the value in security, but many don’t understand or have a plan for how to implement a security package. OmniShield Assure is designed to help those businesses quickly, in one suite of products, see the path to more secure payments processing.”
Also, according to the release, OmniShield Assure is designed to work with both point-of-sale integrated solutions and standalone terminals. It initially supports Verifone’s VX 520 EMV and NFC-enabled terminal solution, as well as Ingenico’s iCT220 and iCT250 models.