Aptus Financial selects Solvport for Triple DES ATM conversion project

Wednesday 26 January 2005 17:07 CET | News

Aptus Financial, a Portland, OR, based ATM ISO, has awarded the Triple DES upgrade initiative of their ATM fleet to Solvport, LLC, a Portland, OR, based servicing company.

Rick Holt, President for Aptus Financial, advised that Solvport was the most suitable partner based on their experience with Triple DES upgrades and track-record in completing these types of projects. The upgrade project is scheduled to be complete by June of 2005. There are now over 371,000 ATMs in the U.S. ( As ATM consumer transactions continue to increase 3-4% per year, so does the demand for robust technology, secure PIN encryption and simple cash dispensing. Networks such as VISA and MasterCard have adopted triple DES as a new standard to be used in securing customer PINs. The most recent timelines for all ATMs active in the field to be operating under Triple DES according to the network mandates are April 1, 2005 for MasterCard, and December 31, 2005 for networks such as Pulse, STAR and NYCE. In todays competitive ATM deployment market, projects of this nature will become time-based, as well as cost-based, said Wayne Vandekraak, CEO for Solvport. ATM ISOs and Financial Institutions will need to have the resources available to facilitate the planning, scheduling and controlling of all the activities that must be done to achieve a Triple DES conversion, or outsource this magnitude of project to a company that has the capability.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce

Industry Events