ViVOtech licenses Semtek's Cipher Hidden Encryption
Jul 27, 2010 (TELECOMWORLDWIRE via COMTEX) --
Payment card security and magnetics technology provider Semtek
Innovative Solutions Corporation announced on Tuesday that contactless
and mobile payments solution provider ViVOtech has become the first
licensee of Semtek's Cipher Hidden Encryption under the company's new
global open licensing framework.
No financial details were disclosed.
Under the proposed long-term licensing arrangement, ViVOtech will
install Semtek's device-level encryption technologies in the ViVOpay
line of products to provide end-to-end encryption security to merchants.
Semtek said its Cipher Security Solutions, which include point-of-sale
device encryption applications, software security and network-level
decryption services, provide continuous security from the time a card
is used through transaction completion. When combined with the
company's card authentication and monitoring systems, the solutions
protect payment card data from data theft and card counterfeiting
throughout the entire use cycle.
Under the company's global open licensing programme, any point of sale
device provider can cost-effectively integrate Cipher Hidden Encryption
for use on its devices. Upon activation, device providers are
inter-operable with Semtek's network-level decryption services, which
are installed on payment processor hosts and large payment gateways
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