The latest generation of Ingenico terminals are now up and ready to accept contactless Visa payWave cards. Ingenico (Euronext: FR0000125346 - ING), leading worldwide provider of payment solutions, has completed the development of the terminal software needed for the German market.
Ingenico will shortly complete distribution to German network operators and acquirers of the software for the new Telium2 Terminal Series (Ingenico iCT250, iWL250 and iPP350). This solution will enable German retailers to offer their customers innovative payment methods and provide them with a thoroughly modern shopping experience.
Security and innovation
Visa payWave utilises NFC (Near Field Communication) wireless communication technology. Thanks to EMV-level security, the highest encryption standard available to payment transaction systems, the data exchange between the contactless Visa chipcard and the contactless reader of the terminal is absolutely secure.
Within the German retail industry, the requisite infrastructure for contactless payments is still largely lacking; the majority of payment terminals are not equipped with the reader units needed for this. With the new Telium2 generation of terminals, recently launched into the German market by Ingenico, this problem is now solved. The product line covers the entire spectrum from countertop terminals to portable and mobile devices as well as base terminals for retailers. The Visa payWave software is delivered immediately along with the terminals; the changeover of existing devices can be carried out easily and cost-efficiently.
Retailers benefit from contactless payment
For retailers, the additional acceptance option will mean a reduction in costs through the reduction of processing cash payments. Especially in those market segments in which the majority of sales involve small amounts - so called micro payments - retailers will profit from contactless payments using Visa payWave. Transactions will be executed securely and in less than a second.
Contactless payment brings with it tremendous potential for small businesses such as kiosks or snack booths, which have traditionally viewed payment by card as too cumbersome and thus rejected it. And in cafés, fuel stations, videotheques, ticket booths and smaller-sized shops the sight of long queues at counters will soon be dramatically reduced, as contactless increases the payment speed and develops customer satisfaction and sales.
Arne Meil, Director BU Terminals at Ingenico GmbH, stated:
Our strategy is based on two crucial cornerstones - innovation and security. Because one of our core areas of expertise is the development of high-performance products and innovative solutions, we are constantly able to quickly respond to changes in customer requirements and the wishes of consumers. Mobile and contactless payments using NFC technologies are a perfect example of this. We are delighted to be able to boost the acceptance of Visa payWave cards within the German retail industry and thereby be part of a new era of payments. "
Visa Europe welcomes the innovations developed by Ingenico.
Our partnership with Ingenico is an important step in expanding the acceptance of Visa payWave in Germany and in reducing the cumbersome and expensive processing of cash payments. The member banks of Visa Europe have already issued more than 22 million Visa payWave cards in Europe. In all, some 50 different banks are issuing the card and more than 150,000 terminals are already equipped to handle contactless cards. Together with Ingenico, we are embarking on the first steps to launch contactless payment using Visa payWave cards, including in Germany. German customers will soon be given the opportunity to use our fast, secure and globally accepted solution for cashless payment", says Ottmar Bloching, Managing Director of Visa Europe in Germany.
In Germany, the terminal and PIN pad solutions from Ingenico are approved by all important network operators and acquirers. Alongside these network operators and acquirers, Ingenico's customers include those from the public health sector, all retail sectors and the petroleum and transportation industries.