Feb 10 , 2011

A First in Canada: Desjardins launches end-to-end data encryption solution for credit card payment

MONTREAL--Credit card transactions are now even more secure thanks to the latest technology developed by Desjardins. End-to-end data encryption completely eliminates exposure of card numbers at points of sale during the payment process. This is a first in Canada.

With the participation of Ingenico, a major player in the global payment industry, Desjardins has developed a payment solution that encrypts credit card data throughout the entire transaction. This new technology will make it easier for retailers to comply with Payment Card Industry-Data Security Standards (PCI-DSS), under which strict security measures must be implemented at points of sale to protect credit card data exposure during the payment process.

This is the only solution of its kind in Canada to provide complete encryption of sensitive credit card information. From the moment the card is read by the store's PIN-pad to the transmission of the data to the Desjardins host system for authorization, the data remains protected. Card information cannot be viewed by store personnel nor decrypted by equipment outside of the Desjardins host system. This maximizes the level of security for every transaction.

According to Mr. André Chatelain, vice-president of Desjardins Card Services, "In an environment where information security is crucial, Desjardins steps up to the plate once again with an innovative strategy that underlines the importance we place on transaction security for our merchants and cardholders."

"We were excited to team up and collaborate with Desjardins on the design of this unique cardholder data protection end-to-end encryption solution for retailers, said Chris Justice, president of Ingenico, North America. This new processor-to terminal security solution is in line with the Canadian payment environment. It will help retailers reduce the risk and cost of payment acceptance by offering the highest level of data security available on the market today."

The solution is available immediately for implementation by integrated payment solutions providers. Tender Retail, a major payment module supplier in Canada, is already integrating the encryption technology. The solution is also being implemented at a major retailer in Quebec, where it is expected to become operational by the summer.

"Tender Retail's application reduces a merchant's exposure to PCI-DSS on all levels, including software and hardware infrastructure. As such, we continue to work closely with Desjardins and look forward to bringing added value to merchants. Our commitment to delivering the most secure and innovative solutions for our merchants has always been fundamental to our success and we will continue to stay on the forefront of this", added Steve Brooks, president of Tender Retail.

Awarded the coveted title "Bank of the Year 2010 - Canada" by the UK magazine The Banker, Desjardins Group is the leading cooperative financial group in Canada and the sixth largest in the world, with assets of over $175 billion. Drawing on the strength of its caisse network in Québec and Ontario, and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.8 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. As one of the largest employers in the country and one of Canada's 10 Most Admired Corporate CulturesTM of 2010, Desjardins is supported by the skills of its 42,200 employees and the commitment of nearly 6,000 elected officers.

Ingenico is a leading provider of payment solutions, with over 15 million terminals deployed in more than 125 countries. Its 3,000 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their offer of services and increase their point of sales revenue.

Tender Retail has always been a leader in innovative payment solutions. Progressive planning has always been the key to our products' success and has enabled us to be first in Canada with EMV, with Contactless and now first in Canada with providing an end to end encryption in an integrated environment. Our middleware solution has been developed to integrate seamlessly into any infrastructure, regardless of volume or legacy systems. Our solution is easily adaptable, exceptionally reliable and dedicated to empowering merchants.


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