In an industry-wide move to combat card fraud and counterfeiting, the US 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.
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.
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