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Chase Paymentech’s New Safetech Page Encryption Solution Enhances Security, Reduces Risk And Cost For Online Merchants

Merchants want online shopping to be easy, safe and reliable for their customers, while also mitigating the risks and costs associated with storing, processing and transmitting online payment data. SafetechSM Page Encryption, launched today by Chase Paymentech, a leading global merchant acquirer, payment processor and subsidiary of JPMorgan Chase & Co., addresses this need by helping merchants provide a safe and optimal shopping experience for their customers. Chase Paymentech is the first acquirer to offer this type of data-protection technology.

“Online merchants want to reduce the risk and cost burdens of complying with the industry’s security standards without having to give up control of the customer shopping experience,” said Dan Charron, president of Chase Paymentech. “With Safetech Page Encryption, customers’ payment data is secure and merchants can continue to support consumer engagement during the checkout process.”

How It Works

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 merchant’s network.

Tokenized values are returned to the merchant to use for internal processes such as settling transactions. Should a merchant’s network become compromised, the cardholder’s 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.

“The combination of Safetech Page Encryption and Safetech Tokenization differentiates Chase Paymentech’s ability to provide a safe and secure online payments experience,” Charron added. “Safetech Page Encryption is a software solution that requires minimal coding to and integration into a merchant’s existing system. The impact on a merchant’s IT resources is relatively low and encryption is seamless during the checkout process.”

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