Verifone point of sale

The point of sale has been evolving over 30 years and, today, merchants want to provide shopping experiences that are aligned with new ways consumers are connecting themselves to the world around them. Put simply, merchants are looking for their payment service providers to do more than simply enable them to accept payments from consumers.

Despite this evolution, security remains at the core to these merchants. They want to enrich the shopper’s connected commerce experience, however, not at the expense of adding risk or complexity to the point of sale. The EMV migration in the U.S. is currently overwhelming a large number of merchants, many of whom believe that EMV will protect them against data breaches. More on what EMV isn’t, here.

According to Boston Retail Partners, just 22% of surveyed retailers support EMV transactions, with 53% planning to do so over the next 12 months. But EMV only solves the issue of counterfeit and stolen cards, it doesn’t resolve the risk of a breach.

Fortunately, secure payment gateways provide ISOs, acquirers, processors and other organizations serving SMBs the ability to protect against data breaches while simplifying payments management and delivering new experiences to consumers at the point of sale. In fact, over the past 4 years, Verifone has seen the volume of transactions it supports with end-to-end encryption and tokenization grow to more than 5 billion annually.

At TRANSACT 16, we’ll be demonstrating how our channel partners will soon have the ability to provide the best of both worlds–enhanced payment security to protect merchants’ and consumers’ payment information, and connected commerce to provide merchants the ability to grow their businesses through new and engaging experiences.

Verifone Carbon, as well as Verifone Engage, connect to Verifone’s Commerce Platform, an open, cloud-based and secure engagement platform whereby businesses can quickly customize their terminals with applications and services to enhance consumer interactions, while also protecting cardholder data with Verifone’s end-to-end encryption and tokenization.