Hotel Online  .Special Report


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Merchants Urged to Reduce Risk of Data Breaches
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Removing Credit Card Data Seen as Key to Real Security
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Las Vegas (October 9, 2007) – The consensus of speakers at the just-concluded Real Security Summit is that the future of credit card payments depends on systems that remove useable card data stored anywhere at the merchant level.  "The technology exists to achieve real security by taking card data out of merchant systems," said J. David Oder, CEO of Shift4 Corporation, which sponsored the Summit.  "Hackers and bad guys will always be on the attack, so the prudent approach is to minimize risk by not storing data in merchant systems."
 
What was described by Jonathan Rusch of the U.S. Department of Justice as a "global security epidemic" is fueled by terrorist groups and organized crime turning to credit card fraud as a ready source of cash.  "Terrorists are always learning and exploiting the system.  The key is to stop the problem at its source," said Dennis Lormel, a former FBI white collar crime expert now with Corporate Risk International.
 
Merchants and other Summit attendees were urged by several speakers to assume that someone will try to penetrate their system and to choose payment processing that outsources the risk by not storing any credit card data at the merchant level.  According to Dr. Heather Mark, Principal, The Aegenis Group, there is a difference between a security breach – when a hacker penetrates a system – and a data breach in which card data is compromised.  "A security breach is never a good thing, but the public is really affected only when their personal data is taken," she said.
 
With the possibility of heavy penalties and customer backlash in the event of a data breach, merchants were urged to investigate new technologies that go beyond complying with standards to create real security that can be sustained.  "Security is paramount," said Oder.  "Compliance is really a byproduct of a commitment to security."
 
About Shift4 Corporation 
Shift4, a leading developer of secure financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices, auto rental and e-commerce markets. Through connectivity to most major processors, Dollars on the Net provides both high speed and low cost authorizations and settlements for credit, debit, check, private label and gift card transactions. Dollars on the Net also includes the ability to access, review and edit transactions prior to settlement, as well as a searchable, 24-month archive of transactions for reporting and charge back defense. For more information, visit www.shift4.com

Contact


Shift4 Corporation
Randy Carr
Vice President of Marketing
702-597-2480 ext. 3433
randy@shift4.com
Website: www.shift4.com
Also See: Shift4 Doubles Merchant Base in 2005; Shift4 Corporation Approaches $15 Billion in Payments Processed / January 2006
Shift4 Releases New Technology to Insure the Security of Its Merchants’ and Partners’ Payment Processing; Tokenization Moves the Liability for Securing Credit Card Data away from Merchants’ and POS Application Developers / October 2005
Shift4 to Sponsor Inaugural Transaction Security Summit; Summit to Delve into Specifics of Latest Credit Card Security Regulations for Merchants and Payment Applications / August 2005
Shift4 Handles Over $1 Billion Worth of Transactions in March / May 2005
Shift4’s Enhanced Interface to MICROS® Offers Signature Capture, Gift Card Processing, Dynamic Currency Conversion & PINned Debit / April 2004
Shift4 Partners with Planet Payment to Offer Dynamic Currency Conversion at the Point-of-Sale Revenue Sharing and Ease of Integration Among Key Features / April 2004
Shift4’s Direct, High Speed Connection to Fifth Third Bank Now Certified for Debit / January 2004
Shift4’s E-Payment Solution Expands to Include Canadian PIN Pad Debit / December 2003
Shift4 Announces Visa U.S.A.'s Recognition of Shift4's CISP Compliance / November 2003
$$$ ON THE NET® Processes Record Number of Transaction Dollars in Third Quarter / October 2003
Shift4 $$$ ON THE NET Reseller Program Announces New Exclusive and Preferred Level Partners / June 2003

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