Indonesian bank partners Hypercom for point-to-point encryption services

Under the terms of the agreement, the Indonesian bank will be authorized to provide its merchant customers with Hypercom’s HyperSafe Secure EFTSec Server point-to-point payment data encryption system. The EFTSec system encrypts cardholder data during transaction processing, starting at the payment terminal and ending at the point where the data is decrypted. EFTSec technology represents the industry standard for payment terminal-initiated link encryption in Asia and is the largest operational encryption implementation worldwide.

Hypercom’s HyperSafe Secure suite is based on the industry standard Triple DES DUKPT algorithm and incorporates Hypercoms full X509 public key infrastructure HyperSafe security layer in every Hypercom Optimum payment terminal. Hypercom’s HyperSafe suite of security products defends terminals from rogue applications and malware, protects the terminal management system from communicating with fraudulent terminals and provides a remote management system.

In recent news, Hypercom and US-based electronic payment services provider VeriFone have signed a definitive agreement under which VeriFone will acquire Hypercom in an all-stock transaction valued at approximately USD 485 million, including net debt assumed by VeriFone.