FreedomPay Debuts New P2PE Technology

Puts POS networks 100% out of scope for PCI compliance

Published in CSP Daily News

FreedomPay PCI P2PE (CSP Daily News / Convenience Stores / Technology)

RADNOR, Pa. -- Commerce platform creator FreedomPay has unveiled North America's first Payment Card Industry (PCI)-certified, fully functional, point-to-point encryption (P2PE) payment technology as part of its cloud-based FreedomPay Commerce Platform.

With the certification of its P2PE technology by the PCI Security Standards Council--and through key alliances with hardware vendors and validated secure distribution channels--FreedomPay offers a streamlined, cost-effective way for merchants to put their point-of-sale systems (POS) and networks 100% out of scope for Payment Card Industry Data Security Standard (PCI DSS) compliance.

The solution includes:

  • Protection against breaches through PCI-certified P2PE.
  • Europay, MasterCard and Visa (EMV) technology, ensuring that merchants are prepared for pending requirements.
  • All current payment technology standards including NFC, Magnetic Stripe and PIN Debit.
  • A reduction in the compliance burden from more than 280 controls to just 19.
  • A path to broader payment and customer engagement solutions via the platform.

The company designed the FreedomPay Commerce Platform, which is modular and expandable, as a one-stop solution for merchants who need secure POS transactions and want the capability to expand their commerce options. Through its deployment, customers can reap the benefits of P2PE and easily tap FreedomPay's portfolio of services, such as mobile payments, incentive programs and reporting and analytics.

"By offering the P2PE-integrated solutions of the FreedomPay Commerce Platform, with leading POS devices and secure distribution systems, we lock down security and enable merchants relying on POS credit-card transactions to gain nearly instantaneous PCI compliance for their POS systems and networks," Tom Durovsik, the CEO of FreedomPay said. "This saves money by eliminating the need for network scans and segmented networks by sharply reducing the amount of time for vendors to come online securely."

He said that some large foodservice vendors, who rely on FreedomPay Stored Value, are using the FreedomPay Commerce Platform to gain the security benefits of P2PE including support for near-field communications (NFC), EMV and magnetic stripe. This security layer gives foodservice customers the comfort of knowing that their credit-card details are being handled via the safest technology available.

Radnor, Pa.-based FreedomPay recently announced a consortium partnership with Ingenico and ScanSource in releasing North America's first fully functional P2PE solution leveraging best-of-breed technology from each partner. Ingenico devices were integrated into the FreedomPay platform to support true point-to-point encryption, which instantly reduces merchants' scope for PCI DSS compliance and gives merchants options for future payment system expansion. The solution is delivered through ScanSource's secure distribution methods.

The FreedomPay Commerce Platform is a multi-patented solution portfolio designed to enable companies to embrace current trends and accelerate innovation. FreedomPay delivers a secure user experience driven from the cloud to any device, anytime, anywhere. The platform bridges the gap across in-store, web and mobile by interconnecting POS systems, transaction hosts, incentive engines and other disparate systems to a transaction superhighway. The FreedomPay Commerce Platform P2PE solution provides merchants complete payment data security, including EMV and NFC compliance, in accordance with the coveted certification from the PCI Security Standards Council.