Commerce platform provider FreedomPay has launched a PCI certified fully-functional, point-to-point encryption (P2PE) payment technology as part of its cloud-based platform.
The first system of its kind in North America, the technology offers a streamlined, cost-effective way for merchants to put their point-of-sale systems (POS) and networks 100 per cent out of scope for Payment Card Industry Data Security Standard (PCI DSS) compliance.
The solution includes:
- The most advanced protection against breaches through PCI certified P2PE,
- EMV technology, ensuring that merchants are prepared for pending EMV requirements,
- All current payment technology standards including: NFC, Magnetic Stripe and PIN Debit,
- A dramatic reduction in the compliance burden from 280+ Controls to just 19,
- A path to broader payment and customer engagement solutions via the platform.
Tom Durovsik, the CEO of FreedomPay said, “By offering the P2PE-integrated solutions of the FreedomPay Commerce Platform, with leading POS devices and secure distribution systems, we lock down security and enable merchants relying on POS credit card transactions to gain nearly instantaneous PCI compliance for their POS systems and networks. This saves money by eliminating the need for network scans and segmented networks by sharply reducing the amount of time for vendors to come online securely.”
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.