The FreedomPay Commerce Platform has been approved as a payment gateway for EMV on First Data, a global leader in commerce-enabling technology and solutions. First Data is at the forefront of EMV expertise and readiness as the company has been producing EMV-enabled cards and processing EMV transactions for years.
“FreedomPay’s EMV certification combined with P2PE enables merchants to adopt advanced payment security at the point of sale,” said Brendan O’Meara, Worldwide Managing Director of Retail for Microsoft Corp. “With real-time transaction data and the highest security certification available, FreedomPay offers merchants across retail, restaurant, lodging, e-commerce and MOTO best practices in payments, business intelligence, and value-added services.”
In an industry-wide move to combat card fraud and counterfeiting, the United States is set to transition more than a billion payment cards to the EMV standard, and upwards of 12 million credit card terminals at merchant locations. With EMV certification on First Data, FreedomPay is able to shield merchants from the impending liability shift imposed by the card brands beginning in October 2015. EMV chips are designed to prevent card fraud by authenticating each card-present transaction, but leaves clear text card data exposed to the merchant’s point of sale system. FreedomPay’s PCI Validated P2PE plus tokenization provides merchants with true card data security for all transactions by ensuring that sensitive cardholder data is completely encrypted and replaced with surrogate values.
As a secure payment gateway, FreedomPay works with global leaders in hospitality, gaming, food service, higher education, healthcare and retail to prevent sensitive cardholder data from entering their point of sale and network environment. Having earned the coveted PCI Validation for P2PE, FreedomPay is approved to reduce the merchant’s scope for PCI compliance from approximately 300 controls to just 30.
“Ensuring the security of consumer payment data is a top priority for merchants across all industries,” said Chris Kronenthal, Chief Technology Officer of FreedomPay. “Working with leading organizations in lodging, gaming, retail, foodservice, healthcare and higher education to implement PCI best practices including EMV, tokenization and Validated P2PE, FreedomPay is helping merchants secure their payment environment, prevent EMV liability exposure and reduce scope for PCI compliance.”
FreedomPay certified for EMV using credit card terminals from Ingenico Group with SRED functionality that encrypts card data at the point of interaction. The breadth of EMV-ready devices available to merchants on the FreedomPay platform solves for all payment use cases: multi-lane retail, quick service restaurant, table service restaurant, lodging and unattended kiosk. The EMV certification also includes signature capture support and offline functionality.
The FreedomPay platform is fully integrated with several leading point of sale solutions, including Oracle/MICROS, Agilysys, NCR Quest, Revel Systems, Digital Dining, Nextep, and more, with a robust software development toolkit that enables rapid integration with ISVs. FreedomPay also enables a range of commerce solutions including dynamic currency conversion (DCC), real time incentives, NFC mobile wallet transactions and secure online payments.
With the EMV certification, merchants and ISVs that integrate with the platform do not have to undergo their own separate EMV certification. Combined with PCI-P2PE, ISVs do not have to complete PA-DSS or EMV certifications, saving the time and cost of both the certification and ongoing compliance updates.