Powertranz Ltd., a newly incorporated card payment solutions provider, in partnership with First Atlantic Commerce (FAC), a global online payment gateway, today announced the launch of Card Present payment platform, Powertranz.
Powertranz is a modern, robust payment gateway that provides Integrated Point of Sale (POS)/Card present transaction processing, including EMV and PCI Validated Point to Point Encryption (P2PE), for merchants across the Caribbean.
The first and only truly integrated Card Present payment solution incorporating PCI Validated P2PE in the Caribbean, Powertranz provides POS software vendors with a lightweight integration point to enable integrated payment solutions for merchants.
Powertranz currently supports Chip and Pin, Chip and Signature, and Magnetic Stripe read capabilities across 17 Caribbean countries.
The fully equipped payment platform features PCI Validated P2PE, the PCI Councils standard for End to End encryption, via Powertranzs partnership with Bluefin Payment Systems. PCI validated P2PE encrypts card data at the point of contact with the payment terminal, removing all clear text credit card data from the merchants systems.
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This largely reduces PCI Scope and protects merchants from credit card data breaches, which continue to trend upward on a global scale.
- Full integration between POS software and payment terminal
- Elimination of price and credit card data manual entries
- Elimination of costly dual entry mistakes
- Cleansed transactional data sent back to POS software in real time
- Protection from costly data breaches
- Sensitive card data encrypted at all times
- Improved ability to reconcile transactions
- No requirement for POS software vendor to do costly EMV certifications to processors
- PCI Validated P2PE protection on each transaction
- PCI authorized scope reduction
According to Powertranz CEO, Chris Burns, until now, the Caribbean market lacked a truly integrated EMV solution. POS software and payment terminals did not have access to the required integration points.
With the deployment of Powertranz we have solved an important issue that existed in the Caribbean for many years. We have removed the dual entry requirement, which significantly improves a merchants ability to reconcile transactions, he said. And thanks to Bluefin, we can provide PCI Validated P2PE solutions within POS environments which not only greatly reduces the merchants PCI Scope, but also gives them industry leading protection from costly data breaches. This is a major step forward for the Caribbean payments industry.
Ronnie Viera, COO of Powertranz added: We are extremely pleased that, after 3 years of design, development and testing, Powertranz is now available to the market. The new gateway was built with a fully redundant systems architecture using the latest in technology. As well, we have released a state-of-the-art merchant portal web application to provide merchants with deep insight into their transaction processing activity.
Powertranz is available now to Point of Sale merchants across the Caribbean. For more information, please visit www.powertranz.bm
Powertranz is a sophisticated Card Present payment platform that processes integrated Point of Sale transactions, including EMV and PCI Validated Point to Point Encryption (P2PE), in the Caribbean marketplace. Powertranz is the first provider of PCI Validated P2PE in the Caribbean via its partnership with Bluefin Payment Systems. The company is based in Bermuda. For more information, please visit www.powertranz.bm
About First Atlantic Commerce
First Atlantic Commerce (FAC) is a leading global, online payment solutions provider that specializes in the Caribbean. Headquartered in Bermuda, FAC provides merchants with multi-currency online payment solutions, tokenization services and PCI validated Point to Point Encryption solutions. As well, FAC provides merchants and banks with fraud management services including AVS-only, CVV, 3-D Secure„¢ and Kounts fraud control system, in multiple jurisdictions across Europe, the US, Canada, and the Latin American Caribbean Region. Customers include Sandals, Digicel, PriceSmart and Bahamas Telecommunications Company (BTC). For more information, please visit www.firstatlanticcommerce.com