Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, and Ingenico Group, (Euronext: FR0000125346 – ING), the global leader in seamless payments, today announced the addition of Vantiv’s EMV-certified processing application on Ingenico Group’s smart terminal solution set for small- and medium-sized merchants. The Vantiv processing application offers the latest fraud and security features, including EMV and Point-to-Point Encryption (P2PE) designed to help merchants reduce chargeback liability following the October liability shift.
“Our SMB customers need a payment acceptance solution that meets today’s needs as well as tomorrow’s,” said Patty Walters, senior vice president, corporate EMV strategy at Vantiv. “Vantiv’s new EMV-certified solution is designed to enable them to accept a wide range of payment methods and improve security for both cardholders and merchants.”
Combined with the terminal, small- and medium-sized businesses (SMBs) will be able to accept virtually any kind of payment, including: EMV chip and PIN, EMV chip and signature, magnetic stripe, and contactless via NFC, including Apple Pay.
“Security is in our DNA. Ingenico Group was the world’s first terminal manufacturer to achieve EMVCo certification back in 1998 and has implemented EMV-certified payment solutions in 170 countries supporting small and medium-sized merchants,” said Bernie Frey, senior vice president of acquirer sales at Ingenico Group North America. “We’re pleased to continue our longstanding relationship with Vantiv in this important new product line.”
Ingenico Group has led EMV transitions in dozens of nations around the world and has found that once EMV cards are issued, cardholders better understand the fraud reduction benefits and ask for this protection at merchants they frequent.