Prism releases high security payment terminals

Wednesday 30 March 2005 19:02 CET | News

Prism Holdings, a leading transactions company, has released its Outdoor Payment Terminal (OPT 4000) - an upgraded version of the original Self-Service Terminal (SST) which has been specifically developed to comply with the worlds most stringent security standards: EMV, Visa PED and T-DES.

This follows the certification of the OPT 4000 as EMV Level 1 and Level 2 compliant by the global EMV (Europay, MasterCard, Visa) standards authority in addition to Visa PED certification. The earlier version of the OPT, a secure payment acceptance, funds loading and information presentation device that handles all contact and contactless token-based electronic payment requirements, has been installed throughout Malaysia. The terminal gained rapid acceptance in that region as a result of its ruggedness, weather resistance and ease-of-use. Now, with the new OPT 4000 meeting all current security standards for electronic payment devices, global demand for the SA-developed terminals is likely to increase. According to Gerhard Claassen, Director of Prism Crypto and OEM Business Unit, banks and retailers around the world (including SA) are stepping up their efforts to meet the mandated Visa and MasterCard deadline for their PIN-handling systems to comply with the global Triple DES* (T-DES) algorithm and EMV standards. In fact, Visa and MasterCard have issued a mandate that all banks upgrade their PIN-handling systems to use the T-DES algorithm - while EMV-based smart cards will replace magnetic stripe bankcards within the next few years. Visa has further mandated an additional physical and logical security certification - Visa PED, if it is to acquire a transaction. In fact, Prism recently signed a 10-year cooperation agreement with NYSE-listed Radiant Systems - one of the worlds largest suppliers of store technology for the foodservice, petroleum and convenience store, and cinema industries - which will result in Prisms OPT being incorporated into Radiants advanced suite of petroleum forecourt products to ExxonMobil in Asia. The Prism OPT is suitable for integration into unattended/semi-attended and attended terminals like kiosks, ATMs, airline check-in counters, train and bus stations, hotel lobbies, casinos, theatres and other general leisure environments.

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Categories: Payments & Commerce | Payments General
Countries: World
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