Elavon, a wholly owned subsidiary of US Bancorp and a provider of payment processing services, has chosen to extend its security solutions suite by adapting technologies from Semtek and Voltage Security to include encryption capabilities for its acquiring and gateway solutions.
Elavon’s suite of security solutions supports multiple configurations that are mapped to the business needs, point-of-sale infrastructure and processing environment for merchants from a variety of industries.
The adaptation of Semtek’s and Voltage Security’s encryption technologies is expected to enable Elavon to provide a single source for all payment solutions, from security to processing, funding and support.
According to Elavon, it has also developed advanced tokenization schemes that will allow merchants to securely access card data for future transactions.
Stuart Harvey, CEO of Elavon, said: “End-to-end encryption and advanced tokenization are rapidly becoming preferred methods for securing cardholder data. Additionally, these solutions often help merchants reduce the scope and resources associated with annual PCI audits, allowing them to focus on serving the needs of their customers.”