Mobile Wallets and Apple Pay™
The Latest in Payment Acceptance Technology
Did you know? All of our new EMV terminals are also NFC enabled to accept contactless payment transactions such as Apple Pay™ and Google Wallet. Not only is this the newest technology in payment acceptance, it also has an extra layer of security for cardholders and merchants with the combined use of biometrics, encryption, and tokenization.
Biometrics and tokenization technologies have been around for a number of years. What’s new is their combination in a platform that allows users to authenticate their identity while removing payment card data and replacing it with a token. A token is a dynamically generated numerical value that replaces the actual card data for each contactless payment making the information maintained by the merchant useless to hackers and unauthorized users.
Once the smart phone authenticates the user, the encrypted payment information is then passed at the point of sale to the merchant and on to the payment card networks which then decrypts the data and passes it to the issuer to further decrypt and authenticate the payment.
And it all occurs with a simple tap.