November 1, 2015
With Its Second Processor Certification, Cayan Continues Its EMV Momentum
LAS VEGAS, NV- (Press Release) - Cayan, The Payment Possibilities Company™, announced that it has achieved ICC EMV Terminal Certification with Vantiv, a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes. Cayan's Vantiv certification is the company's second processor certification and was attained within a month of completing a rigorous process of EMV testing and certification with First Data Corporation's Rapid Connect gateway, one of the United States' largest credit card processors.
As of October 1, 2015, U.S. businesses accepting credit cards are required to accept EMV to avoid liability pertaining to fraudulent transactions made on non-EMV payment devices. Complete EMV certification requires three levels: hardware, software and processor, with a different certification required for each processor. The company's second processor certification is a significant achievement as many others in the payments space have yet to achieve one processor certification. With a kernel certification for Cayan's Genius® Customer Engagement Platform®, the company is uniquely positioned to continuously certify processors to its gateway, and expects to complete certifications with many of the key processors within the year.
"The transition to EMV requires a significant investment of time and resources across the payments industry," said Henry Helgeson, CEO, Cayan. "Cayan has remained committed to this vision of constantly preparing businesses for what's next in the world of payments. The speed with which we've achieved our second processor certification is a testament to our unparalleled ability to make the future of payments reality for our customers.
Genius' kernel development and cloud-based architecture also allow Cayan to remotely turn on EMV acceptance functionality for its customers. This means that groups of Cayan's customers can seamlessly accept EMV transactions on the Genius platform, without upgrading hardware.
"Many payments players have yet to complete any processor certifications, because they underestimated the amount of time the certification process would take," said Marc Castrechini, VP of Program Management, Cayan. "Our team took proactive steps to certify our kernel well before the EMV deadline. As a result we are in a unique position to not only activate EMV for our customers, but to do so remotely and with multiple processors."
In addition to providing EMV capable solutions, the Genius platform also supports near field communications-based mobile payments, QR/barcode payments, and manually entered and swiped credit and debit transactions. Genius customers have the peace of mind that their system will continuously be updated to provide new and secure payments technologies.
About Cayan Cayan is the leading provider of payment technologies that give businesses a competitive advantage. From intuitive and reliable credit card processing to integrated customer engagement solutions, we continually develop new ways for businesses to unlock the power of payments.