VeriFone And STS Partner To Offer Chip and PIN Solution

UK retailers could now benefit from a fully certified Chip & PIN solution following VeriFones collaboration with leading UK-based systems integrator Smart Technology Solutions (STS). The new solution will enable retailers using STS EMV Level 2 card processing software, Emvelink , to select VeriFones industry-leading SC 5000 PINpad for use with PC-based and integrated EFT POS systems. In January 2004, Emvelink became one of the first Level 2-certified software kernels to attain EMV 4.0/2000 approval. Chip and PIN is a major development in combating fraud and is expected to dramatically reduce fraud losses. The massive UK programme will see more than 850,000 retailer terminals, 122 million cards and 40,000 cash machines upgraded. In addition to Chip and PIN compliance, the SC 5000 is a plug and play device, enabling it to be integrated with other integrated EFT software available in the UK market. The SC 5000 is protected by a comprehensive array of hardware and software-based security features and adheres to Triple DES (3DES) encryption standards being adopted by the payment industry to raise the level of fraud protection for PIN-based debit transactions. The SC 5000 PINpad provides the easiest way to upgrade existing terminals or electronic cash registers to support EMV requirements, and is the only peripheral device chosen as part of the Visa Smart Breakthrough Acceptance Device program designed to accelerate EMV throughout the world.