Safetech Encryption is able to eliminate the processing, transmission and storage of unprotected payment card account information on retailers’ systems. Via this service, all cardholders’ details are encrypted and formatted in order to allow retailer’s point-of-sale (POS) system to process the transaction. In case of loss, other systems or persons will be unable to use the card. The encrypted information is afterwards transmitted to Chase Paymentech, where it is decrypted and processed using the payment brand networks, like MasterCard or Visa.
The Safetech Encryption is able to secure payment transactions, including swiped, chip read, contactless and manually keyed transactions. In addition, the service can offer reduction to Payment Card Industry (PCI) compliance requirements because the retailers do not have to store unprotected cardholder data in their point-of-sale system or within their networks.
The Safetech Encryption is available at Chase Paymentech Canada POS retail customers.
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