Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Perimeter

3/17/2010
08:18 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Fifth Third Processing Solutions Announces Enterprise Security And Encryption

Working with Voltage Security to offer several new customer solutions focused on the protection of sensitive cardholder information

CINCINNATI, March 17 /PRNewswire/ -- Fifth Third Processing Solutions, a premier full-service payment solutions provider, 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. Fifth Third Processing Solutions' data security solution will provide a single platform for both end-to-end encryption and tokenization to help merchants remove sensitive card data from authorization systems as well as back office business applications.

Long known as a payments advocate for the merchant community, Fifth Third Processing Solutions is working with Voltage Security, Inc., a global leader in security solutions, to offer several new customer solutions focused on the protection of sensitive cardholder information. Fifth Third Processing Solutions selected Voltage for the superior flexibility of the product offering. This includes their effective and simplified key management structure, their advanced encryption methodology, and their 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," commented Donald Boeding, President, Merchant Services at Fifth Third Processing Solutions. He continued, "We also needed a solution that not only worked in a single terminal environment but could handle complex multi-lane key management. The Voltage solution accomplishes all of these objectives. Additionally, by utilizing Voltage's innovative format-preserving encryption technology, we are able to minimize integration work at the merchant's Point-of-Sale system."

"Partnering with Voltage is another key step in the continuous execution of our Data Protection strategy because their technology easily integrates on so many platforms," added Bob Bartlett, Chief Information Officer at Fifth Third Processing Solutions. "We also believe that due to the unique way in which Voltage encryption keys are created and managed, merchants will not experience significant increased ongoing operational support costs. This is something that is often overlooked when merchants are assessing security options."

Fifth Third Processing Solutions expects to begin deploying end-to-end encryption and tokenization solutions with both complex national merchants as well as small regional merchants. As the market for payment security solutions evolves, Fifth Third Processing Solutions will expand their suite of security solutions to meet the growing demand.

Fifth Third Processing Solutions, LLC delivers innovative payment transaction processing and acceptance solutions to create and support complex payment strategies for merchants, businesses, and financial institutions around the world. A pioneer in card payment acceptance in the early 1970s, Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio and is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (Nasdaq: FITB)

As a premier full service payment solutions provider, the Company provides servicing solutions and product engineering for financial institutions' and retailers' credit card, debit card, merchant and private label programs processing over 33.3 billion ATM and point of sale transactions and over $315.5 billion in debit and credit card sales volume annually. The Company supports over 180,000 merchant and financial institution locations and 11,000 ATMs in 44 states and 11 countries. According to the Nilson Report (March 2009), the Company is the fourth largest U.S. merchant purchase transaction acquirer. Learn more at www.FTPSLLC.com.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Commentary
Ransomware Is Not the Problem
Adam Shostack, Consultant, Entrepreneur, Technologist, Game Designer,  6/9/2021
Edge-DRsplash-11-edge-ask-the-experts
How Can I Test the Security of My Home-Office Employees' Routers?
John Bock, Senior Research Scientist,  6/7/2021
News
New Ransomware Group Claiming Connection to REvil Gang Surfaces
Jai Vijayan, Contributing Writer,  6/10/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win an Amazon Gift Card! Click Here
Latest Comment: Google's new See No Evil policy......
Current Issue
The State of Cybersecurity Incident Response
In this report learn how enterprises are building their incident response teams and processes, how they research potential compromises, how they respond to new breaches, and what tools and processes they use to remediate problems and improve their cyber defenses for the future.
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-31664
PUBLISHED: 2021-06-18
RIOT-OS 2021.01 before commit 44741ff99f7a71df45420635b238b9c22093647a contains a buffer overflow which could allow attackers to obtain sensitive information.
CVE-2021-33185
PUBLISHED: 2021-06-18
SerenityOS contains a buffer overflow in the set_range test in TestBitmap which could allow attackers to obtain sensitive information.
CVE-2021-33186
PUBLISHED: 2021-06-18
SerenityOS in test-crypto.cpp contains a stack buffer overflow which could allow attackers to obtain sensitive information.
CVE-2021-31272
PUBLISHED: 2021-06-18
SerenityOS before commit 3844e8569689dd476064a0759d704bc64fb3ca2c contains a directory traversal vulnerability in tar/unzip that may lead to command execution or privilege escalation.
CVE-2021-31660
PUBLISHED: 2021-06-18
RIOT-OS 2021.01 before commit 85da504d2dc30188b89f44c3276fc5a25b31251f contains a buffer overflow which could allow attackers to obtain sensitive information.