Vantiv Inc. is offering Ingenico SA's new point of sale products in an effort to prepare the industry for the EMV chip-card standard and Near Field Communication technology.
Vantiv, a Cincinnati-based payments processor, is making Ingenico's Telium point-of-sale products available to financial institutions and merchants, the companies said in a May 23 press release.
The Telium equipment uses Vantiv's point-to-point encryption, the release said.
"In the U.S., the current dynamic changes in the payments ecosystem incite us to take a proactive approach" by offering equipment that's ready for EMV and NFC, Bill Weingart, Vantiv's chief product officer, said in the release.
The equipment accepts "any type of transactions that … business demands today and in the future," Weingart said.
The Telium range comes with embedded payment technologies such as contactless and NFC, the release said. These included features reduce the need for add-on devices or extra components.
"We bring years of EMV chip-based technology expertise and implementation to our partnership with Vantiv," Thierry Denis, Ingenico's North America president, said in the release.