TD Merchant Services today announced the availability of Canada's first "chip-ready" integrated point-of-sale (POS) solution designed for businesses preparing to upgrade their infrastructures to accept chip-based debit and credit cards.
Merchant Connect EMV is a software interface designed by Tender Retail that allows businesses to connect their POS systems with their payment processor; it also ensures merchants meet the precise requirements of EMV, the global technology standard for chip-based debit and credit cards to replace existing magnetic stripe cards. TD Merchant Services is the first payment processor in Canada to certify Tender Retail's Merchant Connect EMV.
"We're working hard to take care of tomorrow's chip requirements today," said Jeff van Duynhoven, Vice President, TD Merchant Services. "As the payments industry transitions to chip technology, we think merchants will come to appreciate our chip knowledge and expertise. We're pleased to partner with Tender Retail to become the first in Canada to offer a chip-ready integrated solution for the point-of-sale."
Businesses that implement Merchant Connect EMV to send payment card transactions to TD Merchant Services will benefit from
- Increased fraud protection;
- Reduced liability for charge backs;
- Global interoperability;
- Increased efficiency at the checkout;
- Secure, cost effective transactions at offline and unattended locations; and
- Elimination of dual receipts.
"We're committed to ensuring our customers remain at the forefront in fraud protection and customer service, and chip technology plays a key role in this as the evolution of the payments industry continues," said Steve Brooks, President, Tender Retail. "TD Merchant Services is a smart provider of the types of solutions required to accept card payments and they're leading the way in helping merchants become chip-enabled."