ID TECH COMMITS TO DEVELOPING PCI SRED CARD READERS TO ENABLE “P2PE”
Cypress, CA (January 10th, 2013) - ID TECH, a leading manufacturer of automated data entry, mobile payment, point of sale, and secure payment devices, today announced it's commitment to provide the highest current payments standards PCI PTS Secure Reading and Exchange of Data (SRED) in it's product line in an effort to maximize security and protect cardholder's data.
Don't be a victim of credit card fraud. The annual ACI Worldwide Global Fraud Report found a quarter of all consumers across the world have been victimized by pre-paid, credit, and debit card fraud in the past five years. The problem is more prevalent in the United States with 42 percent of those surveyed saying they had direct experience with fraudulent activity.
In another fraud report by Javelin, credit card fraud is up 87 percents since 2010, resulting in a total loss of $6 billion. This is the third year in a row that fraud prevention had declined. Criminals continue to look for new ways to conduct fraud while the payments industry works to limit opportunities for the misuse of card holder data. Innovative technologies from ID TECH, in compliance with PCI-PTS, help merchants and the payments industry close a major area of potential fraud and protect consumers’ financial information.
The SRED is based on PCI-PTS requirements for increased protection of card holder data and expands the range of ID TECH encrypting payment card readers. The SRED is the foundation for PCI defined point-to-point encryption (P2PE) by defining measurable security measures for payment card readers protecting card holder data.
Launching at NRF 2013 is ID TECH’s SecuRED a PCI-PTS SRED standalone or integrated magnetic stripe reader that provides a pivotal first step towards point-to-point encryption (P2PE) by enabling tamper resistant in the Reader protecting cardholder data. “This product is specifically targeted at the hospitality market, in particular restaurants and lodging establishments that generate a large number of card transactions and are increasingly the targets for fraudsters. ID TECH remains committed to delivering a broad range of high quality and cost effective security solutions for the payment card industry” said Stuart Taylor, Vice President of Product Management and Marketing for ID TECH. See SecuRED at the NRF Big Show 2013 - ID TECH booth # 2632.
About ID TECH
ID TECH is a global leader in the Auto ID industry with sales, manufacturing and R&D facilities around the world. The company has become a well-established payment solutions provider with extensive experience in data capturing and encryption products and services. Designing dependable, feature-rich products has made ID TECH a leading supplier of MagStripe readers/writers, mobile payment readers, contactless readers, smart card readers, barcode readers, POS keyboards, signature capture devices, PCI-compliant PIN pads, and other specialty products for OEMs, VARs, resellers, distributors, and key end users. ID TECH provides both standard and custom solutions to support customer requirements. For more information about ID TECH, please call 1-800-984-1010 or visit www.idtechproducts.com.