"Semtek is pleased to announce that two of our major national retailers, having implemented Semtek's end to end encryption systems in 2009 and 2010, have now seen their PCI audit scope dramatically reduced. The delivery of this kind of return on investment to our merchant clients fulfills the promise that Semtek has made to the retail community that our solutions deliver definitive, measurable, and validated results," said Patrick Hazel, President and Chief Executive of Semtek. (It is Semtek's policy not to disclose the names of the merchants who use Semtek security technologies.)
Semtek's encryption solutions, in these retail cases marketed under the brand name VeriShield Protect and installed within the TRSM of VeriFone payment terminals paired with Semtek's Cipher Decryption Services, supported on the TNS network or in the merchant's own data center, were subject to the payment industry's mandatory PCI DSS auditing requirements. In both cases, the merchants received successful Reports of Compliance which have now been recognized by their merchant acquirers and the PCI DSS auditing body.
Deploying end-to-end encryption within large merchant's environments is considered the most difficult of all implementation use cases for these types of technologies due to the layers of store systems and complex infrastructure that cannot be disrupted. Semtek's becomes the first firm to deploy end-to-end encryption in the large (Level 1) retail sector that delivers to retailers substantial de-scoping benefits as validated by a third-party auditor during their annual PCI audit.
"We want to congratulate our merchant clients for this significant achievement, as well as TNS and VeriFone, two of our important US deployment partners, for playing key roles in validating the concept that end to end encryption, when implemented correctly, can and will deliver major reductions in auditing scope and reductions in PCI compliance costs," continued Mr. Hazel. "We look forward to delivering this kind of value to our entire global merchant portfolio as their annual audits are conducted in the coming months."
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 operates the world's largest network of supporting payment processors and point of sale device vendors in the end-to-end security sector. For more information, please visit Semtek's website at www.semtek.com.