New Mobile Payment App Uses Tokenization to Fill Security Gap

| April 11, 2014

Shift4 Corporation, the provider of DOLLARS ON THE NET®, has announced VT4, a fast, secure mobile payment solution for enterprises. Accessible through a mobile app or a Web browser, VT4 turns mobile devices into a convenient point of sale. The solution was unveiled this morning at TRANSACT 14: Powered by ETA.

Shift4’s VT4 provides online and offline processing capabilities that enable users to complete credit, debit, cash, and gift card transactions across all business outlets, including resort properties with onsite retail and restaurants. VT4 is the first 100% bank- and processor-neutral payment app and also allows for an unlimited number of MIDs and users, making it the ideal mobile payment solution for enterprises.

VT4 fills the security gap left open by current mobile payment apps. Using TrueTokenization® and P2PE, VT4 ensures sensitive cardholder data never enters the mobile device. It also offers complete administrator control over the devices – admins can remotely add or disable a user’s access, or modify their permissions in real time.

Transactions processed through VT4 will batch and settle seamlessly alongside transactions from a merchant’s POS systems at the end of each day.

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