Verifone (NYSE: PAY) announced today that it will enable its North America payment devices to support all Mastercard EMV transactions, including contact and contactless. As a result, merchants will be able to provide customers with faster checkout and a wider range of EMV-secure payment options.
Supporting Mastercard contactless or tap-and-go payments will play a pivotal role in retail environments where speed and convenience are critical. Contactless technology has the potential to transform the way retailers engage with consumers at the point-of-sale or in the aisles.
“Mastercard believes in providing consumers and merchants with the fastest and safest ways to pay. Today, that means EMV contactless with higher transaction approval rates and enhanced security,” said Linda Kirkpatrick, executive vice president of merchants and acceptance, Mastercard. “We are delighted to work with Verifone to promote industry awareness on the benefits of contactless and expedite the availability and enablement of this technology in the marketplace.”
From mobile wallet acceptance and personalized content to NFC tags and beacons, contactless brings new opportunities for merchants to track, interact with, and reward customers; without compromising security or incurring additional risk. As contactless momentum builds, it will enable merchants to remain ahead of the pack, to reap the greatest rewards in terms of customer and brand loyalty.
“Most of the top U.S. retailers use Verifone payment solutions which enables us to drive scalable acceptance for contactless NFC,” said Richard Char, senior vice president, Business Development, Verifone. “Quicker transaction speed with enhanced payment security are ideal when lines are long and customers are ready to check out. Verifone is committed to working with Mastercard to support contactless NFC and make EMV adoption a superior experience for both merchants and consumers.”
Contributed | what does this mean?