Verifone Holdings, Inc. (NYSE: PAY) announced today that its PCI-approved fuel dispenser payment system, Secure PumpPAY, has securely processed more than one million transactions during consumer field trials. Responding to the alarming increase in credit and debit card fraud events at the gas pump, petroleum retailers are moving quickly to integrate this secure payment solution and ensure protection for their customers and their brands.
Secure PumpPAY offers petroleum retailers a cost effective security solution by upgrading existing fuel dispensers with card payment technology that meets current Payment Card Industry standards, including Triple Data Encryption Standard (TDES) requirements that have been mandated by Visa for every existing pump by July 2010.
“As a retailer, we have an obligation to protect our customers, and Secure PumpPAY not only guards against payment card fraud, but also protects our company brand,” said John Strickland, president of Wayne Oil in North Carolina. “Secure PumpPAY is the only commercially available product for card security at unattended outdoor gas pumps.”
Secure PumpPAY is supported by seven of the top 10 major oil brands and is the only PCI-approved solution that includes a PCI encrypted PIN pad and TDES encryption. The solution also supports patent pending technology that cryptographically masks all customer account information at the card reader, rendering compromised data useless to criminals.
In addition to meeting the current Visa mandates, Secure PumpPAY offers additional security features including a tightly sealed housing unit that shields all cables against skimmer installation. A polymer tactile keypad prevents keyboard overlay skimmers from being installed, and a privacy guard around the keypad shields the consumer’s PIN entry from surreptitious cameras.
“The rapid adoption of this secure payment option proves that petroleum retailers understand the immediate need for added site security to protect their customers and their brands,” said Jeff Wakefield, Verifone vice president of marketing, Integrated Systems. “They understand that real security, not just compliance, is critical and where they need to focus their efforts and spending. They don’t want to have to throw away a simple TDES upgrade when they are breached or new requirements are announced. Secure PumpPAY future proofs their investment for them.”
Secure PumpPAY also provides petroleum retailers with a large color display on which they can run bright, attention-getting promotions to customers while they are filling up their tanks, increasing in-store sales. The solution also includes a fast, high-resolution graphics-enabled thermal receipt printer that can display store logos or bar coded receipts and includes a wider paper roll.
Verifone’s Secure PumpPAY is a compact, powerful solution for petroleum stations, convenience stores and supermarkets that need to upgrade their existing fuel dispensers with a PCI-approved payment solution. Purpose-built for use in tough outdoor conditions such as exposure to adverse weather and petroleum and diesel splashes, it is constructed from a rugged and durable polymer and can be retrofitted to existing dispensers from Wayne, Gilbarco, Bennett and Tokheim. In addition, an optional built-in contactless reader will support all U.S. contactless payment schemes.
About Verifone Holdings, Inc.
Verifone Holdings, Inc. (“Verifone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. Verifone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. Verifone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.