ALLENTOWN, Pa., April 27, 2018 /PRNewswire/ -- Shift4 Payments, the leader in secure payment processing innovation, today announced that it has reached another company milestone, having now processed over eight billion tokenized transactions through their original tokenization technology, a testament to the company's extensive track record of providing the most secure payment processing to merchants.
Shift4 is known as the inventor of payment data tokenization technology, having introduced the world's first tokenization solution of its kind to the payments industry in 2005. This innovative step forward was driven by Shift4's commitment to providing best-in-class payment security solutions for merchants in retail, hospitality, food and beverage, e-commerce and more. The company's TrueTokenization solution paved the way for countless similar products that emulate the technology that Shift4 pioneered.
Shift4's tokenization solution supports merchants' business objectives by replacing cardholder data, which has a universal value, with a random alphanumeric value (a token) that is only valuable within specific parameters and in a particular environment. This renders any payment data in storage meaningless to hackers and protects merchants from the devastating effects of a data breach.
While tokenization is considered an industry standard today, Shift4 has expanded the capabilities of the token to include integration with merchants' loyalty and analytics programs without sacrificing security. The company has also adapted their tokenization technologies to protect merchants in specific industries, such as hospitality, where card data can exist at many touchpoints.
"The fact that tokenization is synonymous with payment security today is proof that the industry rewards innovation and originality," said Steve Sommers, Chief Application Architect at Shift4 Payments. "We are immensely proud to have reached eight billion transactions successfully tokenized by our technology."
Merchants can take full advantage of Shift4's tokenization solution by using it alongside their EMV and point-to-point encryption solutions for layered security. Combining these technologies provides businesses with the best protection from data theft and reduces PCI scope, saving them considerable time and money.
To learn more about Shift4 Payments and their tokenization technology, visit www.shift4.com/tokenization.
About Shift4 Payments
Shift4 Payments is the leader in secure payment processing solutions, powering the top point-of-sale and software providers across numerous verticals, including Food & Beverage, Hospitality, Lodging, Gaming, Retail, and e-Commerce. This includes the company's Harbortouch, Restaurant Manager, POSitouch, and Future POS brands, as well as over 300 additional software integrations in virtually every industry. With eight offices across the U.S. and Europe, 7,000 sales partners, and three state-of-the-art data centers, the company securely processes over 1 billion transactions annually for nearly 200,000 businesses, representing over $100 billion in payments each year. For additional information, visit www.shift4.com.
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SOURCE Shift4 Payments