BALTIMORE, Sept. 30 2014 /PRNewswire/ -- SafeNet, Inc., a global leader in data protection solutions, announced it is working with The Logic Group to deliver a Point-to-Point Encryption (P2PE) solution to help its customers reduce the risk of fraud and increase payment security. With a P2PE solution, merchants can completely remove themselves from the scope of the Payment Card Industry Security Standards Council (PCI SSC).
Under PCI DSS regulation, merchants have faced heightened pressure to comply with data security standards, investing millions to bring all their stores into compliance.
As a provider of multichannel payments to large corporate organizations in Europe, The Logic Group needed to deploy a PCI P2PE-compliant solution that could provide its customers with robust encryption, decryption, and key management. By leveraging SafeNet's robust hardware security modules (HSMs), The Logic Group has been able to pass several benefits on to customers, including:
Increased security and reduced risk: By leveraging the Solve DataShield offering, customers are able to eliminate the holding of credit card data in store, which strengthens security and reduces the risk of data theft or compromise.
Enhanced consumer trust: By reducing the risk of a data breach with a robust security platform, organizations can foster increased trust among their customers.
Reduced audit costs: With the Solve DataShield solution, merchants can completely remove their stores from the scope of PCI DSS audits, significantly reducing the associated efforts and costs.
Streamlined administration: Customers can dramatically reduce the time and effort internal teams have to dedicate to security administration by adopting a complete solution.
The P2PE standard provides detailed requirements that outline how to protect data as soon as it is collected from a chip-and-PIN device until the payment settlement process is complete and includes a number of requirements relating to the hardware used for encryption, decryption, and key management.
The Logic Group implemented SafeNet's Luna EFT HSMs as part of its P2PE solution. The deployment aids the necessary encryption of the company's payment services and enabled The Logic Group's P2PE solution, Solve Datashield, to comply with the PCI SSC and receive validation.
Nick Stacey, Director of Business and Market Operations at The Logic Group, commented, "Delivering P2PE-compliant offerings in this market provides a huge business opportunity for us as demand for this service continues to grow. So when developing the Solve DataShield offering, it was vital that we complied with all the relevant PCI P2PE standards, including robust key management policies."
"SafeNet's Luna EFT HSMs delivered all the security capabilities that we required, while providing a platform that we could deploy quickly and manage efficiently. As a result, we were able to speed up our time to market, and deliver solutions that provide customers with maximum security and value," Stacey continued.
Mark Yakabuski, Crypto Management Vice President at SafeNet, concluded, "As security threats continue to increase in the retail market, new compliance standards are emerging. The Logic Group has developed a market-leading, PCI-compliant solution that enables point-to-point encryption, allowing customers to meet PCI compliance needs and drastically improve the security of their payment transactions."
SafeNet's Luna EFT HSMs are certified to both the Federal Information Processing Standards (FIPS) and PCI HSM standards, which are mandated by the PCI council for P2PE transactions. The HSMs provide integration support for encryption algorithms, as well as fast implementation, with The Logic Group completing the initial installation of the HSMs in less than a day.
About The Logic Group The Logic Group is one of Europe's largest payment and loyalty specialists, providing a solution that processes more than 3 billion payment transactions a year and manages loyalty schemes with over 20 million members.
We believe every customer interaction paves the way for opportunity, and we see a future where payments, loyalty, and insights solutions can work together to deliver outstanding results. Our experience has allowed us to develop trusting relationships with many of Europe's leading brands, and we continue to service current and new partners with solutions that inspire multichannel business growth.
About SafeNet, Inc. Founded in 1983, SafeNet, Inc. is one of the largest information security companies in the world, and is trusted to protect the most sensitive data for market-leading organizations around the globe. SafeNet's data-centric approach focuses on the protection of high-value information throughout its lifecycle, from the data center to the cloud. More than 25,000 customers across commercial enterprises and government agencies trust SafeNet to protect and control access to sensitive data, manage risk, ensure compliance, and secure virtual and cloud environments. Learn more about SafeNet on Twitter, LinkedIn, Facebook, YouTube, and Google +.