Shift4 Hits Seven Billion Tokenized Transactions

  • Shift4 Corporation
  • 10.12.16
Shift4, a payment gateway provider, announced that it has achieved an unprecedented milestone of seven billion tokenized transactions, a testament to the company's extensive track record of providing secure payment processing.

Shift4’s TrueTokenization solution supports merchants’ business objectives by:

  • Replacing cardholder data, which has a universal value, with a surrogate that is only valuable within specific parameters and in a particular environment (much like an arcade token) — rendering any payment data in storage meaningless to hackers and protecting merchants from the effects of a devastating data breach.
  • Preserving merchants’ day-to-day business processes while securing and storing sensitive cardholder data offsite in Shift4’s secure, PCI-compliant data centers transferring the burden of storing and protecting this data from the merchant to the data-security experts at Shift4.
  • Working together with Shift4’s MetaToken to support merchants’ loyalty and analytics programs without sacrificing security.
  • Providing increased security for the merchant’s environment and systems by securely tokenizing the consumer-based payment “tokens” available from mobile wallets and card-based token services.
  • Combining with EMV and point-to-point encryption to protect merchants from card-present fraud and reduce their PCI scope, saving them a great deal of time and money.

Shift4 introduced TrueTokenization, one of the first payment data tokenization solutions, in 2005, helping to shape a new era in the payments industry. The company’s commitment to providing best-in-class payment security solutions for retail, spa, hospitality, food and beverage, e-commerce merchants and more is underscored by a decade of 245 percent growth.

“Shift4 created tokenization as a simple solution to a complex problem, where merchants were struggling to secure the sensitive card data they relied on to carry out their daily business," said J.D. Oder II, CTO and SVP — R&D, Shift4. "We took much of the burden of storing and securing that sensitive payment data off the merchants’ shoulders and placed it squarely on our own. With hackers’ tactics growing more advanced, our tokenization solution, which replaces payment card data (instead of just disguising it), is all the more important.”

“Seven (billion) might be a lucky number, but when it comes to our customers, we’d never take a gamble," said Dave Oder, CEO, Shift4. "Shift4’s priority has always been to develop payment solutions that not only meet merchants’ short-term needs (like defending against the latest security threat), but that empower them to optimize their operations for the long-term. Tokenization was invented out of this commitment, and we are thrilled with the impact that it has had on the industry. We look forward to achieving more milestones as we continue to develop and provide the fastest, most secure and reliable payment solutions in the industry. You can bet on that.”




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