TMCnet News
Georgia : Powerful First Data Transaction Technology Supports Apple Pay, Launching Today [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) When Apple Pay launches today, financial institutions participating in Apple Pay can use First Data, the global leader in payment technology and services solutions, to create secure tokens and provision credit cards on the Apple Pay service. First Data financial services sector partners Wells Fargo and Bank of America Merchant Services are among the first financial institutions to offer Apple Pay, while a number of First Data merchant partners are among those now accepting the payment service. Today, Apple Pay ushers in a new era of digital payments, and First Data is there to process secure and easy transactions for our clients, said Frank Bisignano, First Data s Chairman and CEO. First Data technology is designed to work with Apple Pay, and broadens First Data s experience with the newest and most innovative payment systems, which helps our financial institution, merchant and software developer clients grow their businesses. The arrival of Apple Pay opens a world of opportunity for merchants of all sizes to grow their businesses. Consumers are looking for a transaction experience that is as easy as placing their phone near a point-of-sale terminal. First Data supports the safety of both online and point-of-sale transactions. A process called tokenization ensures the consumer s credit or debit card data is not shared during transactions. A token is a number that is not related to a customer s account number. With cardholder information protected by the token, account numbers are shielded and inaccessible to compromise, reducing the risk of fraud. Contactless terminals are part of popular modern terminals for merchants looking to prepare for upcoming migration to EMV chip card acceptance in 2015. First Data provides a range of contactless terminal options that are ready to accept both this latest technology and chip-enabled cards at the point of sale. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |