The goal of this section is just to provide some basic information on the payment industry. To get it started, here are some acronyms used both throughout the industry, as well as some specific to VeriFone.

AES – Advanced Encryption Standard:
A fancy name for the NIST approved encryption standard. VeriShield Total Protect uses a form of AES, Variable AES in its “Hidden Encryption.”

EMV – Stands for Europay, MasterCard and VISA:
The global standard for inter-operation of integrated circuit cards (IC cards or “chip cards”) and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions.

FIPS – Federal Information Processing Standard:
A wide-ranging group of security regulations by the U.S. Fed. Gov’t, regulating computer systems.

FPE – Format Preserving Encryption:
A type of encryption whereas the encrypted string of information is the same length and structure as the original data.

HSM – Hardware Security Module:
A type of crypto processor that manages digital keys. It’s a physical device that usually plugs into a server or other computer.

NFC – Near Field Communication:
An evolution of traditional RFID technology that allows two-way communication between a mobile device (e.g. Smartphone) and another electronic device.

PA DSS – Payment Application Data Security Standard:
A set of regulations set forth by the PCI SSC that offer best practices/guidelines for the development/integration of applications/software used to process credit card transactions.

PAN – Primary Account Numbers:
Basically, the number found on your credit card.

PCI DSS – Payment Card Industry Data Security Standard:
A set of regulations set forth by the PCI Security Standards Council (SSC) that govern the security of data (general).

PED – PIN Entry Device:
A device whereas a user enters a pin in conjunction with a card of some sort.

POS – Point of Sale:
Where the transaction/purchase occurs. Usually a piece of hardware or hardware/software combination.

PTS – Pin Transaction Security:
Another PCI SSC set of guidelines for PEDs and EPP (encrypted pin pad devices)

SRED – Secure Reading and Exchange of Data:
Refers to the fact that our PTS 3.0 devices can read and encrypt the data right at the device.

TRSM – Tamper Resistant Security Module:
A hardened, secured module built into our devices, that encrypts data.

VHE – VeriShield Hidden Encryption:
Used by VeriShield Total Protect to encrypt data at the POS.

VSDMS – VeriFone Secure Device Management Service:
Our monitoring application.