Elavon Selects Protegrity Tokenization Technology as Part of Its Comprehensive Data Security Solution
Advanced Tokenization Removes Actual Card Data While Ensuring Continued Business Processes
STAMFORD, CT–(Marketwire – Jun 26, 2012) – Protegrity, a leading provider of end-to-end data security solutions, and Elavon, a leading provider of end-to-end payment processing services and a wholly-owned subsidiary of U.S. Bancorp, have signed a definitive agreement to include Protegrity’s next-generation tokenization technology as part of Elavon’s SAFE-T Suite solution [www.safetsuite.com]. SAFE-T Suite helps companies protect cardholder data by utilizing a combination of EMV, point-to-point encryption and tokenization. In addition to realizing the benefits of advanced data protection and reduced PCI scope with advanced tokenization, merchants achieve seamless business process continuity by using tokens in place of actual card data, allowing it to be used for subsequent business purposes. “We are consistently looking to bring the highest level of security to our customers,” said Robert McMillon, vice president, Global Security Solutions, Elavon. “Protegrity’s tokenization technology is a key component of our end-to-end solution that helps merchants protect sensitive data throughout the transaction lifecycle: while it is in use, in transit and at rest.” “Having a global industry leader like Elavon select our tokenization technology speaks to the strength and uniqueness of our technology and helps validate the research and development that went into Protegrity’s patent-pending, next-generation tokenization solution,” said Suni Munshani, CEO of Protegrity. “Together, we can help businesses ease the burden of PCI compliance audits and reduce the total cost of card acceptance — two challenges that are impacting retailers on a global basis.” About Protegrity Headquartered in Stamford, Conn., Protegrity provides high performance, infinitely scalable, end-to-end data security solutions that protect sensitive information across the enterprise from the point of acquisition to deletion. The company’s award-winning software products span a variety of data protection methods, including end-to-end encryption, Vaultless Tokenization, masking and monitoring, and are backed by several important data protection technology patents. Currently, more than 200 enterprise customers worldwide rely on Protegrity’s comprehensive data security solutions to enable compliance for PCI DSS, HIPAA and other data protection mandates while protecting sensitive data, brand and business reputation. For more information, please visit http://www.protegrity.com. About Elavon Elavon is a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada, Mexico, Brazil and Puerto Rico. Elavon markets solutions including credit and debit card processing, electronic gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring through multiple alliance channels including financial institutions, trade associations, third party sales agents as well as direct sales. Elavon’s suite of solutions is tailored to meet the needs of merchants in specialized markets such as retail, hospitality/T&E, health care, education and the public sector.