Ingenico launches payment security whitepaper
The payment terminal market is expanding along with the development of payment cards in all geographies. Payment terminals play an essential role in increasing the security level of payment systems. Frost and Sullivan estimates 10.4 million terminals have been shipped worldwide in 2008, and 18.1 million payment terminals will be shipped by the payment terminal industry worldwide in 2013, giving a Compound Annual Growth Rate (CAGR) of 11.5% in volume.
From the origin of the payment terminal industry, terminal manufacturers have developed an expertise in implementing security principles and security features in their offer. Nowadays, payment terminal architecture is facing new challenges amongst which the most notable are certainly operating systems and mobility. Open operating systems answer customer demand for more openness in software and easier application development, they allow to provide more users friendly interface, and to integrate additional services in payment terminals. Open operating systems create new capabilities, but also new challenges for the payment industry. Payment terminal manufacturers have the right answers to provide end-to-end security, with open operating systems.
As we live in an increasingly mobile world, demand for mobile payment terminals is increasing. Merchants, customers, and all stakeholders in the payment chain want to be able to perform transactions in any place. The payment terminal industry has the appropriate answers to enforce end-to-end security regardless of whether payment terminals are fixed or mobile.
Payment terminal vendors are able to behave as a “facilities management” enabler for all players in the payment chain. Such an evolution ensures security and cost effectiveness for merchants, acquirers and all stakeholders in the payment chain.
“Security is at the core of Ingenico genes. It is the foundation on which we build our vision of a more open and mobile world for the future of payment” said Philippe Lazare, CEO Ingenico
Ingenico “End to end security in an open and mobile world” white paper was released with Smart Insights collaboration, it can be downloaded from Ingenico website.