Elavon Launches Safe-T Security Solutions for Small Businesses

ATLANTA--(BUSINESS WIRE)--

The National Cyber Security Alliance states that 71 percent of data breaches occur at small businesses (SMBs) with less than 100 employees. Elavon, a leading global payments provider and subsidiary of U.S. Bancorp USB, now offers Safe-T Security Solutions for SMBs to offer the same level of payment security protection that national brands utilize in their efforts to keep customers and their businesses secure.

Consistent with Elavon's design philosophy for integrating a layered security approach in all payment solutions, Safe-T for small business combines the essential technologies of EMV, encryption and tokenization along with data breach protection in an easy to implement and affordable bundle:

• EMV: EMV chip technology integrates with credit card terminals to enhance fraud protection at the point of sale. An EMV liability shift occurs on Oct. 1, 2015, when non-EMV-enabled businesses will assume responsibility for any fraud that occurs.
• Encryption: Encryption services protect cardholder data throughout the entire transaction loop, from the moment of a "swipe" or "dip" until it reaches Elavon's data centers for processing.
• Tokenization: A token, or a random sequence of numbers, is returned to the point-of-sale so the actual card number is never stored within a point-of-sale system. Tokens can then be used for recurring or subsequent transactions.
• Data Breach Protection: A financial coverage plan in the event of a data breach, regardless of the path or source of the breach.

A recent Honeywell study found that 95 percent of consumers would feel more comfortable shopping at retailers that use encryption technology. With Safe-T's layered approach to security, small businesses and their customers can feel more confident that their payments are secure.

"Small businesses are the core of our economy, but they may also be more at risk when it comes to credit card fraud and data breaches," said Lori Haakmeester, North America product and innovation leader for Elavon. "With the holiday shopping season fast approaching and the Oct. 1 EMV liability shift, offering Safe-T to small businesses couldn't come at a better time."

About Elavon (www.elavon.com) Twitter: @elavon
Elavon is wholly owned by U.S. Bancorp USB and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico, Brazil and Puerto Rico. As the #1 provider for airlines and a top five provider for hospitality, healthcare, retail, and public sector/education, Elavon's innovative payment solutions are designed to solve pain points for businesses from small to enterprise-sized.

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