Computop Offers Decryption-Only Service for P2PE Payments
NEW YORK and LONDON, July 25, 2017 /PRNewswire/ --
Computop, one of the leading payment service providers, today announced that it now supports clients with a decryption-only service for Point to Point Encryption (P2PE) payments. Installing PCI P2PE certified terminals improves the security of cashless payments for brick-and-mortar retailers.
The decryption of highly secure transactions enables banks, card operators and even retailers that have not yet connected to the Computop Paygate omnichannel platform to accept P2PE-secured payments. Without being read or stored locally, the encrypted transactions are sent directly from the card terminal to Computop, are decrypted and then sent on to the corresponding acquirer bank in a PCI-compliant way. This service is aimed particularly at payment service and financial services providers who would like to incorporate P2PE transactions as part of their offering.
"For our clients, the integration of P2PE-enabled terminals and decryption by Computop significantly lessens the cost of PCI-certification," emphasises Stephan Kück, Computop's Managing Director. "This service is a cost-effective way to integrate fast encryption of their payments into their existing structure."
Card terminals that support P2PE already encrypt card data with asynchronously alternating keys for every transaction, which are therefore particularly secure. It also enables retailers to incorporate devices in the checkout area that are thought to be less secure, such as smartphones or tablets. This significantly reduces the certification costs for the development of software and apps. For retailers, Computop's P2PE solution makes going international much easier, as regional networks and standards no longer apply.
Find out more in this explanatory video: https://youtu.be/_MKHqxdvDvMs
Computop is a leading global payment service provider (PSP) that provides compliant and secure solutions in the fields of e-commerce, POS, m-commerce and Mail Order and Telephone Order (MOTO). The company, founded in 1997, is headquartered in Bamberg, Germany, with additional independent offices in China, the UK and the US. Computop processes transactions totalling $24 billion per year for its client network of over 14,000 large international merchants and global marketplace partners in industries such as retail, travel and gaming. Global customers include C&A, Fossil, Metro Cash & Carry, Rakuten, Samsung and Swarovski. Following the recent asset deal with the Otto Group, Computop is now processing payments for merchants that previously used EOS Payment, including all 100 Otto retail brands. In cooperation with its network of financial and technology partners, which it has expanded over many years, Computop offers a comprehensive multichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes. For further information, please visit www.computop.com.