SafeNet launches new encryption product

The ProtectHost Electronic Funds Transfer (PH EFT) device is designed for the movement of electronic retail funds and payment system processing such as online banking transactions and applications for credit and debit cards.

According to SafeNet, the device encrypts data such as passwords and PIN numbers at the company browser and decrypts it at the host to secure the process.

PH EFT includes a system that allows users to print automatic asynchronous transfer mode keys without compromising the financial data, SafeNet claimed.

The product is compatible with Europay, MasterCard and Visa and is aimed at payment processors, card-issuing companies, online merchants and electronic payment-solution providers.

PH EFT will be available from 15 October. Pricing was unavailable at the time of going to press.

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