Ian Drysdale, Senior Vice President of RBS WorldPay said, "RBS WorldPay intends to provide the merchant community with the most flexible and effective means of continuous security for payment card data. With Semtek's large, and growing, installed base of merchants, we have a proven solution and a highly strategic partner whose product road map will benefit us for years to come."
Semtek's Cipher Decryption Service (CDS) is being installed on RBS WorldPay's host systems to capture transactions that have been encrypted in multiple formats. Point-of-sale (POS) encryption occurs entirely within the Tamper Resistant Security Module of the payment device or at the encrypting read head and no decryption occurs until the transaction is within the RBS WorldPay host environment.
Patrick Hazel, Chief Executive of Semtek, commented: "RBS WorldPay made it clear from the outset that continuous security needed to be deployed in a manner that would optimize implementation options. This approach aligned perfectly with Semtek's open network platform and open licensing of our POS device level encryption solutions to create an agnostic platform for RBS WorldPay to deliver long-term security services to their diverse merchant base."
Semtek's Cipher Security Solutions, which involve point-of-sale device encryption applications, software security, and network services, create a continuous security loop originating when a card is used to when a transaction is complete, all on a common platform. Semtek's encryption solutions, when paired with Semtek's card authentication and monitoring systems, protect payment cards from data theft and card counterfeiting throughout their entire life cycle.
Semtek is focused on resolving the security vulnerabilities of magnetic stripe, contactless, and EMV based payment systems and is playing an increasingly central role in the development and deployment of end-to-end security architectures that resolve the security risks associated with accepting and processing payment card data. Semtek claims the largest global footprint for supporting end-to-end encryption in the payment processing sector. For more information, please visit Semtek's website at www.semtek.com.
About RBS WorldPay:
RBS WorldPay is a leading, single-source provider of electronic payment processing services - including credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services.
RBS WorldPay is the U.S.-based payment processing division of The Royal Bank of Scotland Group plc. For more information, please visit www.rbsworldpay.us.
About The Royal Bank of Scotland Group (RBS)
The RBS Group is a financial services company providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. The RBS Group operates in the Americas, Asia and the Middle East serving more than 40 million customers. For more information, please visit www.RBS.com.