May 28, 2015
Ahead of the October 1 EMV liability shift deadline in the US, global payments provider TSYS and electronic payment solutions provider PAX Technology, Inc. has partnered to produce a new semi-integrated solution that can help simplify the EMV certification process for the vendors.
The TSYS-certified solution uses a single-integration approach that will work with TSYS Guardian Encryption and TSYS Guardian Tokenization. The solution will offer a more secure method for accepting payments for all value-added resellers (VARs), integrated software vendors (ISVs) and their customers to accept EMV and NFC contactless payments.
As the semi-integrated solution is fully certified and seamlessly integrates with point-of-sale (POS) devices, it removes the need for resellers and vendors to go through the lengthy process of EMV certification.
Our all-in-one solution developed with PAX not only reduces costs and time required for EMV certification, but also provides advanced security features to guard against credit card fraud, stated Craig Ludwig, Head of Product for TSYS Merchant Services segment.
PAX and TSYS are developing solutions to provide security, reliability and payment card industry (PCI) compliance to the merchants and developers. Since the software development kit is TSYS-certified, it provides the VARs and ISVs with a quick-to-market solution reducing the hassles of PCI compliance in EMV integration and costs of EMV implementation.
Andy Chau, Chief Executive Officer and President of PAX Technology, Inc. stated, "Merchants, regardless of size, can now process payments securely using TSYS Guardian Encryption, TSYS Guardian Tokenization and EMV. This will also enable them to support NFC payment methods such as Apple Pay, allowing them to take advantage of this easy, secure and private way to pay.
Total System Services (TSYS) is a United States credit card processor, merchant acquirer and bank credit card issuer. The company is headquartered in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks and has been named one of 2015’s World's Most Ethical Companies by Ethisphere Magazine.
About PAX Technology, Inc.:
PAX Technology, Inc. is a POS terminal provider. PAX has distribution in 80 countries and has shipped more than six million terminals worldwide in recent years. In addition to a very competitive pricing model, quality assurance is the company’s top priority which in turn enables PAX to have a strong advantage in the marketplace.