Signature Card Services, West Hollywood, Calif., is offering free EMV-enabled terminals from Ingenico to its merchants, the company told Mobile Marketing & Technology.
The company said it would start making the installations for large (in excess of five figures) merchant base beginning in mid-June.
EMV, a chip-based payment standard, reduces counterfeit fraud and increases security by providing card authentication protocol. With all major card brands supporting the US migration to EMV, Signature Card Services is preparing its merchants for an easy and affordable transition. In addition to free terminals, they are providing support and education to help merchants embrace the change.
Card issuers are seeking to have merchants EMV compliant by June 2014. By starting the process early, Signature Card Services hopes to help protect them from fraud that much sooner. Criminals seeking to compromise terminals will avoid the ones with EMV capabilities and will seek to compromise older, less secure terminals, explained Anthony Urquidez, Signature Card Services vice president of operations.
Signature Card Services has chosen Ingenico’s Telium2 series payment devices for its EMV terminals, Urquidez said. “It offers an all-in-one solution. It has an internal keypad, has NFC and EMV capabilities and is easy to use. It’s well-priced and will be around for a long time. Ingenico is a well-known brand.”
Igenico terminals have supported EMV transactions in Europe and Canada for over two decades.
“We are excited to be collaborating with Signature Card Services to provide EMV-enabled devices for its entire merchant network,” said Rhonda Boardman, Ingenico vice president for U.S. acquiring sales, in a prepared statement. “Through our partnership, we can empower merchants to be EMV ready and we are dedicated to supporting them every step of the way.”