Semtek Innovative Solutions has entered into a multi-year, global agreement with Elavon, a wholly owned subsidiary of US Bancorp and a provider of payments processing services, to provide the merchant processor with security services and infrastructure for the Elavon merchant portfolio.
Semtek said that its Cipher Decryption Service (CDS) is being installed on the Elavon host system to capture transactions that have been encrypted at the point of the swipe in point-of-sale devices. Encryption occurs entirely within the tamper resistant security module of the payment device and no decryption will occur until the transaction is within the Elavon host environment.
Semtek’s services to Elavon include the Cipher Key Management Suite (CKM), system monitoring and reporting (CDMS), and professional services for large merchant implementations.
Semtek’s Cipher security solutions, which involve both point-of-sale device applications, software security, and network services, create a continuous security band originating when a card is used to when the transaction is complete. Semtek’s encryption solutions, when paired with Semtek’s card authentication and monitoring systems, protect payment cards throughout their entire life cycle from data theft and card counterfeiting.
Christopher Kenyon, chief information officer and executive vice president at Elavon, said: “Elavon is committed to providing our merchants the most effective security available to protect cardholder data throughout the transaction lifecycle. Semtek’s end-to-end encryption technology helps mitigate the risk associated with card acceptance, extending peace of mind to merchants everywhere.”
Patrick Hazel, chief executive of Semtek, said: “We are very pleased to have been chosen by Elavon to deliver end to end encryption capabilities to their merchant portfolio. Elavon was very clear in their product strategy and requirement for rapid availability and we are gratified to be their first-to-market choice.”