Payment technology

Ingenico and partners release PCI-certified P2PE, EMV payment solution

Ingenico GroupIngenico recently partnered with FreedomPay and ScanSource to release the first PCI-certified point-to-point encryption (P2PE) and EMV payment solution in North America.

The new solution, which combines Ingenico’s On-Guard and FreedomPay Commerce platforms, covers EMV and NFC electronic payments, as well as those made with magnetic stripe cards. It will, according to Ingenico, be the first to offer PIN debit and support manually entered transactions.

“Security is a critical part of Ingenico’s business DNA,” Gregory Boardman, the senior vice president of software and development at Ingenico, said. “We have three decades of experience providing the most advanced card data security solutions in the payments market. Our new consortium with FreedomPay and ScanSource provides retailers with a PCI-certified P2PE solution. In the fight against fraud, there are no greater technologies than EMV and encryption. This powerful combination has been proven to reduce card data compromise at the point-of-sale. When retailers can focus on their core business without wondering if their customers’ data is secure, the result is real value for the merchant.”

ScanSource, a distributor of specialty technology products, will provide payment processor FreedomPay with product support, staging and deployment services and integration of the new solution.

“There is a lot of misinformation in the market today regarding payment security standards,” FreedomPay CEO Tom Durovsik said. “The FreedomPay solution is the best option for merchants looking to prevent breaches and ensure their capital investments are ready for future payment technologies such as EMV and NFC. We have even gone the extra mile, ensuring merchants can accept hand-keyed or phone-based orders, and still preserve the ability to type in a card number if the magnetic stripe is bad…all the while helping reduce the scope of a merchant’s cardholder data environment.”

Ingenico operates in 125 countries with 4,500 employees. The company was one of the top investors in payments research and development, in terms of revenue invested, in 2012. Revenue in 2012 totaled approximately $1.6 billion.

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