Atlanta, GA – May 2, 2013. Ingenico, leading worldwide provider of payment solutions, and Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for financial institutions of all sizes, announced today that Vantiv will begin deploying Ingenico’s Telium series point-of-sale (POS) devices, which now meet VISA’s EMV mandate requirements.
According to the Visa mandate, all acquirer processors and sub-processor service providers are required to support merchant acceptance of EMV chip transactions by the end of April 2013. As such, Ingenico becomes the first POS manufacturer to offer fully EMV-ready bankcard terminals to financial institutions and small-to-medium size merchants in the United States.
Ingenico has been a great partner in transitioning the U.S. market to EMV technology,” said Patty Walters, senior vice president of merchant and security products at Vantiv. “Our work together will enable merchants and financial institutions across the country to help reduce the risk associated with the acceptance of cards with fraudulent magnetic stripes. Ingenico’s global experience with EMV rollouts and its latest Telium series POS devices offer a perfect package of EMV knowledge and fraud-preventing secure technology that we can extend to our customers.”
Currently, there are over 20 million Ingenico terminals installed globally, accepting millions of electronic payments, including EMV, magstripe, contactless and NFC-enabled mobile transactions daily. Once deployed in the U.S., the EMV chip card terminals will mitigate the risk of card fraud, provide greater cardholder verification methods, and interoperability with the larger global payment infrastructure. Consumers with EMV chip-based payment cards will be able to safely use their cards in the U.S. and on any EMV-compatible payment device anywhere they are accepted in the world. The portfolio of Ingenico EMV certified devices includes iCT220 & iCT250 countertop terminals, andiWL220 wireless terminal.
The question is not ‘if’, but ‘how soon’ merchants in the U.S. will be ready to accept smartcard transactions and accommodate consumers paying with EMV chip-based cards. Thus we are proud to proactively work in concert with Vantiv, one of the top acquirer processors in the country, and be their first POS partner to certify a comprehensive series of EMV-ready innovative payment devices,” said Bernie Frey, Senior Vice President of Acquirer Sales, Ingenico, North America. “We are confident that we have the most extensive EMV know-how and innovative technology necessary to assist Vantiv and its customers in successful migration to EMV payments.”
Ingenico is exhibiting at the upcoming Electronic Transactions Association (ETA) 2013 Annual Expo in New Orleans this week. Please visit their Expo booth #544 to learn more about EMV chip card payments and the latest innovative payment technologies. NPC, A Vantiv Company, is also exhibiting at ETA’s 2013 Expo. Please visit them during the event at Booth #202, or online at npc.net and on Twitter, LinkedIn, and YouTube.