27 May PAX and TSYS® Launch Semi-Integrated EMV® Solution
COLUMBUS, Ga., May 27, 2015 — PAX Technology Limited, a leading global provider of secure electronic payment terminals, and TSYS (NYSE: TSS), a leading global payments provider, launched a new semi-integrated solution that can help simplify the EMV certification process. Using a single integration approach, this TSYS-certified solution has the ability to process with both TSYS Guardian EncryptionSM and TSYS Guardian TokenizationSM, offering Value-Added Resellers (VARs), Integrated Software Vendors (ISVs)and their respective customers with a secure method for accepting payment types, including magnetic stripe, EMV, NFC and Apple PayTM.
Together, TSYS and PAX have taken the guesswork out of EMV certification. Fully certified through all major card brands, this easy-to-implement solution seamlessly integrates with point-of-sale (POS) devices, eliminating the need to go through the lengthy and often painstaking process of EMV certification. By meeting all necessary requirements, this streamlined approach allows both VARs and ISVs to easily meet the rapidly approaching October 1, 2015 EMV liability shift deadline.
“Making the switch to accept EMV transactions can be a confusing and daunting process, which is why it is important to us to offer our clients a simplified approach,” said Craig Ludwig, Head of product, TSYS Merchant Services. “Our all-in-one solution, developed with PAX, not only reduces costs and time required for EMV certification, but also provides advanced security features to guard against credit card fraud.”
Designed for merchants and developers who place a high value on ease of use, security, reliability and Payment Card Industry (PCI) compliance, the solution decouples payments, reducing PCI scope from the POS. Using a software development kit (SDK) provided by PAX, TSYS validates the communication, ensuring it is reliable and secure. This simple integration method provides VARs and ISVs with a quick-to-market solution, with robust support from the TSYS Developer Services team, both during and after integration, all while reducing their overall EMV implementation costs.
“Our semi-integrated, secure payment technology can be seamlessly integrated into line-of-business applications, providing enormous value to merchants, VARs and ISVs,” said Andy Chau, CEO and president of US Office at PAX. “Merchants, regardless of size, can now process payments securely using TSYS Guardian Encryption, TSYS Guardian Tokenization and EMV while supporting new NFC payment methods, such as Apple Pay, Google WalletTM and Samsung® Pay. “
About PAX (www.pax.com.cn)
PAX Technology Limited (“PAX”) is an innovative global provider of electronic payment solutions, offering world-class, cost-effective and superior quality products. Building on its cutting edge technology and service excellence, PAX is considered one of the fastest growing payment industry suppliers with state-of-the-art manufacturing facilities, excellent R&D capabilities, and a worldwide network of sales and channel partners. PAX is listed on the Hong Kong stock exchange as PAX Global Technology Ltd. (0327.HK).
About TSYS (www.tsys.com)
TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2015 World’s Most Ethical Companies by Ethisphere magazine.