Payment processor CardConnect is now offering EMV-card acceptance technology from Ingenico.
CardConnect, of King of Prussia, Pa., is offering all 50,000 of its merchants access to Ingenico's payment offerings from EMV and NFC-ready payment devices to its On-Guard data encryption solution. CardConnect will also provide Ingenico's On-Guard data encryption technology.
The U.S. is in the process of migrating to EMV-chip cards to improve security over the magnetic-stripe cards widely used today. The major card networks have set an October 2015 deadline for most merchants to be able to accept EMV cards. Those who miss the deadline face a shift in fraud liability.
Merchants must already comply with the Payment Card Industry (PCI) data security standard, which sets rules for protecting payment card data.
"Merchants are under pressure as they strive to juggle new forms of digital payment and prepare for the upcoming shift to EMV cards," says Jeffrey Shanahan, president and CEO at CardConnect, in a March 24 press release. "The best way for merchants to excel here is to adopt secure, EMV-ready products and solutions that will reduce their PCI scope through encryption and tokenization."