PAYMENT SYSTEM TIPS & NEWS
From beginner to expert, Payment System Provider professionals get their tips and news here. Stay updated here!
Cloud technologies meet security requirements needed for payment transactions and offer unlimited memory and scalable processing and performance capabilities. Both of these items offer a great opportunity to eliminate the need for having a POS hardware to accept a payment from a card.
In recognition that new type of devices are designed such as Cloud based solution or Merchant Server Solution and therefore application kernels are split over multiple devices, EMVCo has revised its type approval testing process to accommodate Split Application Kernel test submission.
Think about a merchant who wants to use various devices to take the payment. For example, merchant may want to use mobile phone, tablet, desktop PC or a stand-alone POS terminal to take payment. And merchant wants to have the same user experience across all these devices. And merchant wants to be able to monitor the transactions from a central platform regardless of which device is used to take the payment
In today’s payment world, EMV Level 3(L3) certification is one of the most challenging and time-consuming processes for acquirers and terminal vendors. A typical L3 certification process for major brands (MasterCard, Visa, Amex, and Discover) takes between 3 and 6 months. In this article, we will analyze the reasons making the process so challenging and time-consuming and figure out how this process can be managed more efficiently and smoothly.
Although EMV technology brings a lot of advantages, one side effect with it is the increasing number of field issues and complications of management of them. The field issue means that there is something unusual during an EMV contact/contactless transaction which may potentially be the reason for a transaction decline or negative user experience. Field issues may be on a wide range, from a simple incorrect message on the terminal screen, a frozen terminal screen, card reading issues, delay in the transaction time, or frequent declines of transactions.
So far, there have been 2 main obstacles for smartphones to accept card-present payment transactions in retail locations :
1. Security on the PIN entry on the phone
2. The necessity for additional hardware to read EMV chip transactions.
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PRODUCTS
Fairbit Cloud Kernel
Cloud-based software as a service solution
grow your payment business
Fairbit SoftPOS Solution
Offering the best POS solutions can make
or break your business
PRODUCTS
Fairbit Cloud Kernel
Cloud-based software as a service solution
grow your payment business
FEATURES
EMV Kernel-on-the-Cloud
Enables any device with EMV L2 kernel
EMV Parameter Management
Maintains all EMV parameters on the cloud
EMV Monitoring and Reporting
Able to reach all EMV data
Fairbit SoftPOS Solution
Offering the best POS solutions can make
or break your business
Win the more merchants
There is a new form of Mobile POS System