Heartland Payment Systems are collaborating with terminal provider PAX technology in order to provide Europay, MasterCard, and Visa a card data security solution.
Card-present data fraud is a security issue that Heartland and PAX have been trying to neutralise. According to the Financial Fraud Action (FFA) group, in the UK last year there was an estimated £147.5m worth of card-present data fraud.
EMV cards are least susceptible to data fraud because they contain computer chips that are used to authenticate each transaction. Cards featuring a magnetic strip however are more susceptible, and from October 1st 2015, merchants in the United Sates who are not EMV compliant will become financially liable for all card-present data fraud.
The PAX POSlink is now part of Heartland’s suite of products for a range of businesses. Merchants will now meet EMV recommendations with PAX’s terminals, such as the PAX S300. Transactions are now securely routed through the Heartland Secure-certified PAX terminal so Heartland can authorize the payment.
The partnership will also support near field communication (NFC) for mobile payments, such as Apple Pay.
‘‘The Heartland Secure PAX terminals are the latest development in our partnership of making security and technology available to merchants. The PAX POSLink semi-integrated configuration and the PAX S300 provide an exceptional solution to ISVs and VARs that are looking to reduce the complexity of payments support as well as PCI exposure,’’ said Michael English, vice president of product development at Heartland.
Whitepapers
Related reading
Travel industry must keep up with consumers’ payments demands
Payments providers must keep up with the fast-paced change of consumer demands in the travel sector, according to Kevin White, Mastercard’s director ... read more
Nissan joins in-car payments race
Payments services providers and fintechs have unleashed a flurry of collaborative innovations over the course of the past decade in order to ... read more
Ripple courting banks, paytech and big fintech to beat Swift to emerging markets
Midway into 2019, Ripple is broadening its clientbase in order to boost growth and capture emerging market volumes, according to Marcus Treacher, ... read more
UK SMEs need to embrace technology revolution
Modulr CEO Myles Stevenson and Seamus Smith, executive vice president of worldwide payments and banking for Sage, on why now is the time to embrace digitisation
