Acquirer Systems, has announced the launch of its EMV terminal emulator to help the US payments industry’s migration to EMV.
The Payment Schemes have mandated that acquirers must be capable of accepting EMV transactions by April this year. In the absence of their own EMV terminal deployments, many US acquirers and processors must simulate EMV traffic for testing. In response to this need, Acquirer Systems has launched its ASTREX EMV Terminal Emulator for US acquirers and processors.
Fergal Molloy, CEO of Acquirer Systems, commented, “Acquirer Systems has worked with the Payment Schemes to deliver this solution so US firms can meet the April mandate. The release of ASTREX EMV Terminal Emulator further underlines our commitment to supporting EMV migration.”
The ASTREX EMV Terminal Emulator provides acquirers and processors with a virtual EMV terminal for their desktop PC. The emulator generates EMV transactions for the acquirer’s frontend platforms. For firms who do not have an EMV terminal estate, this eliminates the need to develop an EMV terminal application.
Aidan Corcoran, CTO of Acquirer Systems, commented, “Many of the US payment systems are still based on magnetic stripe technology. This means that US payments firms migrating to EMV have the challenge of ensuring adequate testing of EMV scenarios. With the first of the mandated deadlines fast approaching, acquiring and processing firms need solutions that can simulate a true EMV environment to help them to certify quickly and with certainty.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.