Secure EMV chip-based and NFC mobile payments in the US
Payment processing service Vantiv is partnering with payment solutions provider Ingenico to integrate Telium series point-of-sale (POS) products and Vantiv point-to-point encryption (P2PE) solution for marketing and sale, in a bid to facilitate the migration to more secure EMV chip-based and NFC mobile payments in the US (view press release). The partnership wills also see the completion of Class A certification of the Telium series devices, which covers a comprehensive range of Ingenico’s Telium devices including iCT220 & iCT250 countertop terminals, iWL220 & iWL250BT (bluetooth) wireless devices, and iPP220 & iPP320 PIN pads. The Telium range is built on Telium 2 architecture and EMV Level 2 kernel architecture and comes embedded with NFC systems. In this way merchants can seamlessly accept EMV, NFC, contactless and traditional magnetic strip cards. Ingenico POS products support Vantiv P2P card data encryption solution to help merchants conveniently and securely accept electronic payment.
Thierry Denis, president of Ingenico, North America says, “With a footprint of 17 million terminals globally, 14 million of them processing EMV transaction daily, we bring years of EMV chip based technology expertise and implementation to our partnership with Vantiv. We feel confident that Vantiv has chosen a solid POS partner who is well-positioned to respond to their customers’ demanding transaction acceptance needs by equipping them with highest-performing POS products in market capable to support traditional magstripe cards and the new types of payment inclusive of EMV, contactless, and NFC-enabled mobile payments.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
