Vantiv, Inc. : Vantiv First U.S. Acquirer to Complete Mandate Requirements to Process both EMV Visa and Interlink Transactions
Vantiv First U.S. Acquirer to Complete Mandate Requirements
to Process both EMV Visa and Interlink Transactions
Single Integrated Processing Platform Continues to Enable Vantiv to Quickly Integrate New Technologies
Largest U.S. PIN Debit Acquirer Continues to Provide Leadership in Transitioning Merchants to EMV
Cincinnati - Feb. 19, 2013 - Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that it is the first U.S. acquirer to complete host testing requirements to process both Visa and Interlink EMV transactions in support of the EMV acquirer mandate.
EMV is a global standard for credit and debit payment cards based on chip card technology with enhanced security. Embedded in the card is a microprocessor containing cryptographic processing techniques, which when utilized, make card-present payments more secure. More than one billion card users outside the United States are currently utilizing this technology, and U.S. acquirers are required to certify their processing platforms by April 1, 2013.
"We are proud to be the first U.S. acquirer to achieve this integration with Visa," said Carlos Lima, Chief Operating Officer at Vantiv. "To assist our clients with the coming EMV liability shift, being the first to offer EMV acceptance for both Visa and Interlink is essential and is a testament to our strengths in quickly implementing new payment technologies and compliance standards."
Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer in the United States based on number of transactions, and processes for 8 of the top 25 retailers in the nation with volumes weighted towards non-discretionary, everyday spend categories.
"Visa is pleased Vantiv is able to support EMV processing ahead of the acquirer processing mandate and meet the needs of merchants and financial institutions who want to adopt EMV chip technology," said Stephanie Ericksen, Head of Authentication Product Integration at Visa Inc. "Meeting this milestone demonstrates Vantiv's commitment to EMV technology."
As a leader in the industry, Vantiv is the only U.S. headquartered acquirer to serve on the Board of Advisors of EMVco, and is one of two acquirers recently elected to the Smart Card Alliance EMV Forum Steering Committee. The Company also participates as a key member of the Merchant Advisory Group's EMV Forum.
"At Vantiv, we work to ensure our clients are informed and prepared for this important transition," said Patty Walters, Senior Vice President for Merchant Products and Security at Vantiv. "EMV offers merchants and financial institutions new ways to limit counterfeit fraud and provides their customers a more secure shopping experience. While today is an important milestone for Vantiv, we remain focused on continuing to educate our clients and partners to ensure a seamless, timely transition for the entire industry."
Vantiv's integrated processing platform continues to enable the Company to quickly integrate new technologies such as EMV. This, combined with Vantiv's comprehensive suite of payment solutions, represents the Company's continued investments in its core processing platform, emerging technologies and strong execution capabilities, which expand choice and acceptance options for merchants nationwide.
Vantiv is on track to achieve its remaining EMV network certifications by April 1, 2013. For more information about Vantiv, please visit vantiv.com or on Twitter, Facebook, LinkedIn and Google+.
* 1 By Revenue in 2011
Director of Public Relations for Vantiv
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high growth payment segments, such as ecommerce, mobile, prepaid and information solutions, and attractive industry verticals, such as business-to-business, government, healthcare and education. For more information, visit www.vantiv.com.
© Copyright Vantiv, LLC. All rights reserved. Vantiv, the Vantiv logo, and all other Vantiv product or service names and logos are registered trademarks or trademarks of Vantiv, LLC in the USA and other countries. ® indicates USA registration.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Vantiv, Inc. via Thomson Reuters ONE