Card payment startup Powertranz has collaborated with online payment gateway First Atlantic Commerce (FAC) to introduce a new card present payment platform.
The Powertranz payment gateway enables integrated point-of-sale (POS) card transaction processing, including point to point encryption (P2PE), for merchants in 17 Caribbean countries.
The P2PE functionality is made possible through alliance with Bluefin Payment Systems. Furthermore, it encrypts card data at the payment terminal and removes clear text information from merchant systems.
Currently, the platform supports chip and pin, chip and signature and magnetic stripe.
Powertranz CEO Chris Burns said: “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 merchant’s ability to reconcile transactions.
“And thanks to Bluefin, we can provide PCI Validated P2PE solutions within POS environments which not only greatly reduce the merchant’s PCI Scope, but also give them industry leading protection from costly data breaches.”
The new platform facilitates full integration between POS software and payment terminal. It will eliminate the need for manual entry of price and credit card data, as well as dual entry mistakes.
As the payment gateway encrypts sensitive card details, it protects merchants from potential data breaches. It comes with better ability to reconcile transactions.
In addition, the platform sends cleansed transactional data to POS software in real time.