Chief global payment technology company, Hypercom Corporation has announced that its existing HyperSafe Secure suite of payment data encryption technology is based on the lines of the new security requirement guidelines issued by the Secure POS Vendor Alliance (SPVA).

The payment industry’s first complete encryption technology HyperSafe Secure EFTSec Server was launched in 2006 by Hypercom. Major Banks have installed EFTSec; it is also licensed and implemented by several large terminal manufacturers. Recently launched competitor solutions require the user to purchase custom equipment or utilize third party decryption services; whereas in the case of EFTSec it leverages the bank’s or retailer’s existing network infrastructure itself.

The recently announced SPVA end-to-end security requirement guidelines are specially designed for promoting information security best practices and at the same time provide merchants with a clear understanding of what encryption features are needed to provide reduced information security risks related to payment account data. This will subsequently benefit and reduce a bank’s or retailer’s burden of compliance with Payment Card Industry Data Security Standards. The main objective of SPVA is to create an industry encryption framework for payment account data, which can adequately secure the card payment account data before it is sent into the application environment.

T.K. Cheung the Vice President of Global Quality and Security at Hypercom Corporation said “It is absolutely essential that our industry deliver innovative and highly adaptable security solutions that meet each customer’s individual technology choices and implementation requirements to protect cardholder data and preserve cardholder trust in the integrity of the electronic payment system. We are delivering just that with our HyperSafe Secure suite of solutions. Hypercom offers the industry’s widest array of payment card protection technologies to protect businesses and cardholders globally.”

The payment industry’s largest ranges of protection options for protecting businesses and simplifying implementation, is delivered by Hypercom’s HyperSafe Secure suite. Solutions from Voltage Security (News - Alert), MagTek and First Data Corporation are also included in the suite.

HyperSafe Secure suite fully incorporates Hypercom’s complete X509 PKI (public key infrastructure) HyperSafe security layer, which is implanted in every Hypercom Optimum (News - Alert) card payment terminal for protection of the terminal and applications from being hacked and attacked by malwares.