Chase Paymentech launches Safetech Page Encryption

The newly introduced Safetech Page Encryption encrypts payment data the moment a consumer enters her or his payment information into a web browser. The payment remains encrypted until it reaches Chase Paymentech, which processes the transaction. After authorization is obtained from the payment networks, Chase Paymentech employs Safetech Tokenization, a stand-alone solution included with Safetech Page Encryption, to replace customer payment data with a benign, secure value that cannot be converted back to payment or account information within a merchants network.

Tokenized values are returned to the merchant to use for internal processes such as settling transactions. Should a merchants network become compromised, the cardholders data remains tokenized and not accessible to the threat. Thus, the risk associated with storing cardholder data is reduced. Plus, Safetech Page Encryption may lessen the costs for meeting and monitoring Payment Card Industry (PCI) compliance since the burden of managing cardholder data and encryption is removed.

Chase is the US consumer and commercial banking business of JPMorgan, a global financial services company with assets of USD 2.4 trillion and operations in more than 60 countries. Chase serves more than 52 million consumers and small businesses through more than 5,600 bank branches, 18,700 ATMs, credit cards, mortgage offices, and online and mobile banking as well as through relationships with auto dealerships.