20 July 2017
visit www.avoka.com

Banamex launches EMV-compliant mobile POS service

11 July 2013  |  3275 views  |  0 Source: Alaric

BANAMEX became the first bank from the American continent to launch iAcepta Móvil Banamex, an application developed by Stratus Technologies Mexico / Central America called S-Pay mobile POS, which is compatible with handheld devices to make completely secure mobile payments.

The immediate benefit is that those providing goods or services can take payment from their clients immediately and securely using credit or debit cards with an incorporated chip, eliminating cash handling and its resulting risks.

This is the first mPOS solution from BANAMEX that meets EMV certifications and can accept payments from MasterCard or Visa chip cards. To build this solution Stratus worked with its Ecuadorian partner B-Wise (Business Wise), which is a pioneer using this technology in the continent. B-Wise is responsible for the back office administration for the operations. Likewise, Stratus has worked with international payments company Alaric and Authentic, Alaric's powerful payment processing system. Authentic can handle high volumes of transactions within a framework of fault tolerance total availability, which is a characteristic of the Stratus servers. The result: S-Pay mobile POS.

Jaime González Gasque, Director of Mobile Payments for Stratus Technologies Mexico and CA, said that, "The infrastructure is being regularly reviewed by the third party body Trust Wave from PCI (Payment Card Industry) which establishes the rules and procedures that banks and clients should fulfill with regard to information related to transactions with credit and debit cards. PCI requires that transaction information is encrypted, making it impossible to hack. It is a great satisfaction that Banamex is the first bank in our continent to take such a major step to assure and to expedite business through the use of chip cards."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comvisit www.abe-eba.euvisit www.finastra.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
12291 views comments | 19 tweets | 15 linkedin
EPC gears up for pan-European instant paymentsEPC gears up for pan-European instant paym...
9611 views comments | 10 tweets | 28 linkedin
Man trapped in ATM slides 'help me' notes through receipt slotMan trapped in ATM slides 'help me' notes...
9510 views comments | 8 tweets | 20 linkedin
Festy unveils digital currency payments wristbandFesty unveils digital currency payments wr...
8985 views comments | 11 tweets | 7 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
8411 views comments | 14 tweets | 20 linkedin