Paymetric Announces Release of XiSecureTM,
Encryption Management Solution for Enterprise Systems
Addresses Growing Concerns for Protection of Credit Card Data
HOUSTON, August 28, 2007 - Paymetric, Inc., a leading provider of innovative payment card software for enterprise systems, announced today the release of XiSecureTM, a breakthrough solution for managing and centralizing encrypted credit card data across an enterprise.
Paymetric's XiSecure removes credit card numbers stored in business applications - such as SAP - and places them in a highly secure, centralized system that can be protected and monitored utilizing robust encryption technology. All that remains in the business application is a unique token that references the credit card number. Should the business application experience a security breach, the token would have no value - adding a new layer of protection against theft and misuse of credit card data.
This unique approach to managing encrypted credit card data speaks to growing concerns among consumers and merchants alike about the protection of sensitive information. The Payment Card Industry Data Security Standard (PCI DSS) mandates that companies protect credit card data wherever it resides in their enterprise. XiSecure makes this viable and affordable by removing the credit card information from business applications and centralizing it in a single system that is more easily managed and protected.
"Ever since PCI was introduced to the market, companies have scrambled to find a cost-effective and practical way to manage encrypted data," said Ken Naumann, Paymetric's Senior Vice President for Sales and Marketing. "We are excited because XiSecure truly meets a growing industry need. XiSecure accelerates PCI compliance initiatives, provides real cost savings for encryption and introduces a new level of data protection."
XiSecure also helps companies overcome one of the most daunting obstacles to PCI compliance - application downtime due to rotation of encryption keys. Through the use of tokens, key rotation in XiSecure occurs outside enterprise business applications, eliminating downtime worries.
"With XiSecure, we've made the impractical practical when it comes to key rotation," said Mr. Naumann. "Companies that previously introduced new keys without retiring the old ones can do so now without concern for taking their applications down, which ultimately means better protection."
Key features to Paymetric's encryption management solution include:
- Removes stored credit card numbers from enterprise applications, such as SAP
- Replaces credit card numbers in enterprise applications with encryption tokens
- Stores and encrypts credit card numbers in a centralized, secure system
- Provides key management and key rotation capabilities outside of enterprise applications
- Provides access logging
- Provides monitoring of decryption requests
Companies required to comply with PCI DSS and interested in lowering encryption and compliance costs will be well served by XiSecure's data-centric approach. For more information about XiSecure and to learn about implementation options, visit Paymetric at www.paymetric.com.
About Paymetric:
Paymetric, Inc. provides innovative software for managing, protecting and integrating payment card transactions in enterprise systems, enabling companies to improve return on card acceptance, optimize purchasing card programs and reduce barriers to data security compliance. Paymetric is an Austin Ventures portfolio company and an award-winning SAP Software Partner. Visit www.paymetric.com for additional information.
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CONTACT: Tim Girgenti 713-895-2102 tgirgenti@paymetric.com