Point-of-Rental Systems integrates VeriFone terminals
By Point-of-Rental SystemsFeatures
Point-of-Rental Systems has updated its rental management software to integrate VeriFone secure payment terminals, which provide a high level of security in payment processing. Using the PayWare Connect payment gateway, VeriFone terminals use end-to-end encryption and card-based tokenization, which substitutes values as pointers to the encrypted information. This means that credit card data never enters the rental software, but simply a token number is sent to the merchant’s Point-of-Rental system for follow up on charges or refunds. The token removes the liability of stored credit card data. This technology drastically reduces the PCI DSS demands and subsequent expense on the merchant and virtually eliminates the chance of credit card fraud.
In addition, stores using Point-of-Rental’s updated software with
VeriFone terminals are able to process debit cards as well as the global
standard EMV chip cards, which the U.S. payment infrastructure will be
moving to by 2017 according to Visa. EMV chip technology (also known as
“chip and pin”) uses a non-reproducible chip and a required PIN, thereby
greatly reducing a criminal’s ability to use stolen payment card data.
Much of the world already employs EMV chip technology, but the U.S.
payment infrastructure has been slow to implement the more secure
transaction capabilities, which is why experts claim many U.S.
businesses are targets of credit card security attacks. Excluding cards
in the U.S., 44 per cent of all cards are EMV chip cards, and 74 per cent
of all terminals are EMV chip-capable, with 62 per cent of cross-border
transactions conducted with a chip card at a chip terminal. In August
2011, Visa announced plans to accelerate the migration to EMV chip
technology in the U.S. by offering several incentives for merchants who
upgrade to EMV chip-enabled terminals. Among the incentives is a
liability shift away from those who are able to accept EMV chip cards.
Point-of-Rental Systems is providing the enhanced security update to
all current Point-of-Rental software subscribers who have previously
purchased Point-of-Rental’s Integrated Credit Card Module, although
VeriFone terminals must be purchased separately through VeriFone in
order to utilize the capabilities. As always, Point-of-Rental’s
customers are free to choose their own payment card processors.
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