Merchants Urged to Reduce Risk of Data Breaches

Removing Credit Card Data Seen as Key to Real Security

Las Vegas (October 9, 2007) – The consensus of speakers at the just-concluded Real Security Summit is that the future of credit card payments depends on systems that remove useable card data stored anywhere at the merchant level. “The technology exists to achieve real security by taking card data out of merchant systems,” said J. David Oder, CEO of Shift4 Corporation, which sponsored the Summit. “Hackers and bad guys will always be on the attack, so the prudent approach is to minimize risk by not storing data in merchant systems.”

What was described by Jonathan Rusch of the U.S. Department of Justice as a “global security epidemic” is fueled by terrorist groups and organized crime turning to credit card fraud as a ready source of cash. “Terrorists are always learning and exploiting the system. The key is to stop the problem at its source,” said Dennis Lormel, a former FBI white collar crime expert now with Corporate Risk International.

Merchants and other Summit attendees were urged by several speakers to assume that someone will try to penetrate their system and to choose payment processing that outsources the risk by not storing any credit card data at the merchant level. According to Dr. Heather Mark, Principal, The Aegenis Group, there is a difference between a security breach – when a hacker penetrates a system – and a data breach in which card data is compromised. “A security breach is never a good thing, but the public is really affected only when their personal data is taken,” she said.

With the possibility of heavy penalties and customer backlash in the event of a data breach, merchants were urged to investigate new technologies that go beyond complying with standards to create real security that can be sustained. “Security is paramount,” said Oder. “Compliance is really a byproduct of a commitment to security.”

About Shift4 Corporation

Shift4, a leading developer of secure financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices, auto rental and e-commerce markets. Through connectivity to most major processors, $$$ ON THE NET provides both high speed and low cost authorizations and settlements for credit, debit, check, private label and gift card transactions. $$$ ON THE NET also includes the ability to access, review and edit transactions prior to settlement, as well as a searchable, 24-month archive of transactions for reporting and charge back defense. For more information, contact John Mann, Vice President of Sales, (702) 597-2480 x3419 or jmann@shift4.com, or visit Shift4 online at www.shift4.com.

Media Contacts

Randy Carr
Vice President of Marketing
Shift4 Corporation
702-597-2480 ext. 3433
randy@shift4.com

Bill Graulty
Account Supervisor
Mintz & Hoke
860-679-9761
shift4@mintz-hoke.com

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