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News: Costcutter supermarkets group rolls out TRANSAXpay secure card processing solution

02/08/2013

FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, has completed the full rollout of its TRANSAXpay card encryption and payment processing solution at 340 Costcutter stores. The rollout sees the technology implemented at over 1,000 point of sale PIN Entry Devices, providing fast and secure card payment transactions which also help to reduce customer queue times.

TRANSAXpay helps retailers meet the demands of the Payment Card Industry Data Security Standard (commonly referred to as PCI DSS). The system encrypts customer card data at the PIN entry device. This data is then routed through to the FIS Payment Gateway, a PCI DSS Level 1 certified environment, for authorisation, settlement and financial reporting. Having addressed these fundamentals, retailers can benefit from faster connection times, greater reliability and access to emerging payment technologies ahead of their competitors, without placing huge demands on their in-house IT operations.

“With FIS as our payment processing partner, Costcutter Supermarkets Group is one of the first to offer contactless payments in the convenience store market,” said Matt Leary, National Epos Manager, Costcutter Supermarkets Group. “With the TRANSAXpay solution, we will also see improvements in the speed of transaction processing for our franchisees whilst ensuring that our customers’ card data is encrypted and stored securely by FIS.”

Whilst no card data will be stored on any Costcutter Supermarkets Group system, the retailer will also benefit from instant, secure access to a full suite of real-time reporting on all card transactions and 24-hour technical support and monitoring of the FIS Payment Gateway. The FIS technical infrastructure will also ensure the highest level of service availability, a factor that is especially important to the convenience group as many of its stores operate outside standard opening hours.

“We are delighted that Costcutter Supermarkets Group joins a number of other leading retailers who have invested in improving card data security for their customers with the TRANSAXpay service,” said Simon Dickinson, General Manager of FIS Merchant Payments. “Costcutter Supermarkets Group has taken a proactive approach to payment security and TRANSAXpay will help them to stay ahead by offering their customers a faster, more convenient and secure way to pay.”

TRANSAXpay provides retailers with a payment processing solution that includes card data encryption and tokenisation services. Delivering upon FIS’ development and implementation experience with payment acceptance, card data security and consumer payment experience, the solution enables retailers to better manage all their card transactions and adhere to the latest card data encryption and security standards.

FIS is a long established and leading provider of secure payment processing solutions that enables 12,500 retailers, hospitality and fuel vendors across Europe to accept payments more securely online, at their mail order / telephone order centres or at over 80,000 stores.

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