Semtek, a provider of payment card security and magnetics technology, has signed a multi-year agreement with RBS WorldPay to supply with security services and infrastructure for US merchants.
RBS WorldPay, the US-based payment processing division of Royal Bank of Scotland Group, will be deploying Semtek’s Cipher Decryption Service (CDS) on its 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, according to the Semtek.
Semtek’s Cipher Security Solutions involve in POS device encryption applications, software security, and network services, create a continuous security loop originating when a card is used to till the transaction is complete, all on a common platform.
Semtek said that its encryption solutions, when combined with its card authentication and monitoring systems, protect payment cards from data theft and card counterfeiting throughout their entire life cycle.
RBS WorldPay senior vice president Ian Drysdale said that with Semtek’s large, and growing, installed base of merchants, the company has a proven solution and a highly strategic partner whose product road map will benefit for years to come.
Semtek chief executive Patrick Hazel said, “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.”