Chase Paymentech introduces the Future Proof terminal

The newly launched terminal allows merchants to accept traditional magnetic-stripe payment cards, EMV-enabled chip cards, mobile wallets, which will help businesses establish two-way communications with customers and contactless payments, which allow customers to bypass signature for small ticket items. The Future Proof terminal also ensures that merchants can accept Near-Field-Communication-enabled payments in the future, which Juniper Research forecasts will reach USD 74 billion in transactions by 2015. The terminal features a series of payment acceptance capabilities which are aimed at reducing the incidence of payment fraud for both merchants and their customers.

The Future Proof terminal is available through Chases 5,300 bank branch network as well as on its website and it is compatible with a variety of merchants. Via its platforms, Chase Paymentech provides access to various payment methods, such as credit cards, debit cards, prepaid stored value cards and electronic check processing. In 2011, Chase Paymentech processed 24.4 billion transactions with a value of $USD 53.7 billion, including an estimated half of all global internet transactions.