FlexPoint® division launches point-to-point encryption (P2PE) solution
Integrated payments division further bolsters security for point of sale transactions
Irving, TX, July 13, 2015 - Fifth Manhattan, a leading provider of technology-driven global payment processing solutions, announced it has completed certification for point-to-point encryption (P2PE) for its FlexPoint integration platform, further bolstering security at the point of sale by adding the highest level of cardholder data protection available. Along with delivering robust anti-fraud measures, FlexPoint's P2PE solution effectively reduces PCI DSS scope for merchants, ISVs and VARs, lowering the cost and effort needed to achieve and maintain compliance.
FlexPoint's proprietary software encrypts cardholder data directly at the point of sale, rendering it useless to fraudsters without a special decryption key located safely with the processor. Since the encrypted data is sent to a point of secure decryption outside the merchant's environment, in the event of a breach, liability is pushed upstream to the processor. FlexPoint removes many expensive hurdles for PCI certification and also allows POS software developers and vendors to reduce time and cost associated with PA-DSS audits.
Benefits of FlexPoint's P2PE solution include:
- Enhanced security: Merchants and consumers benefit from encryption throughout the entire transaction chain as card data is protected in use, in transit and at rest. ISVs and VARs can benefit from accessing industries with tight security requirements.
- Reduced costs: PCI compliance can cost between tens of thousands to millions of dollars. FlexPoint can significantly reduce financial costs involved with PCI DSS.
- Time savings: Becoming PCI compliant can last up to two years, and renewing certification may last a full six months. To save time, FlexPoint's P2PE solution significantly relieves regulatory and security burdens.
- Fewer resources: FlexPoint helps businesses increase bandwidth and productivity by reducing resources needed to set up and maintain compliance to the latest security standards.
"Our P2PE solution presents a compelling value to all stakeholders, beginning with our ISV and VAR partners. We're making it easier for developers, integrators and dealers to offer a certified solution to their merchant clients," said Joe Lane, senior vice president of FlexPoint. "With increasing incidences of payment fraud and data breaches, it's imperative for businesses to have the best protection available to them, which is why we're continuing to develop FlexPoint's hardware, software and middleware platform with security and ease of use in mind."
Along with increasing pressure for better payment security, the upcoming EMV liability shift deadline in the United States and rise of NFC-enabled mobile wallets such as Apple Pay are transforming the payments landscape, pushing demand higher for merchants to upgrade their POS devices. With FlexPoint, business owners can enable a best of breed point of sale solution that accepts virtually every payment type and protects their businesses and clients from rising card fraud.
FlexPoint's P2PE solution is available to ISVs and VARs through its Partner Program. More information can be found at: FMpay partners