With EMV support, merchants can expect to see a significant reduction in lost sales due to fraud, lower annual PCI compliance costs, and an improved customer experience through more convenient and faster checkout.
Dallas, Texas (PRWEB) November 17, 2011
On-Line Strategies, providers of payment processing software and hosted services, is pleased to announce its intent to roll out support for EMV technology in early 2012. EMV, the chip stardard developed by Europay, MasterCard and Visa, consists of chip card, terminal and application specifications.
EMV technology is often referred to simply as chip technology, allowing mobile transactions to be initiated in the form of contact and contactless payments. OLS is planning to adopt support for EMV technology, and is expected to be in full swing over the next several months as merchants upgrade their payment infrastructures to support chip-enabled payments through smart chip cards and mobile payment devices.
“With EMV support,” says Terry Richards, founder and CEO of OLS, “merchants can expect to see a significant reduction in lost sales due to fraud, lower annual PCI compliance costs, and an improved customer experience through more convenient and faster checkout.”
EMV technology is capable of improving payment security since it offers dual authentication in the form of card and terminal validation. OLS will continue to work with its customers and partners to support the addition of EMV technology for POS controller and terminal systems.
About On-Line Strategies
Since 1996, On-Line Strategies has provided the financial services, retail and healthcare industries with mission-critical payment and adjudication systems, strategic and technical business process consultation and production support services. Many of North America’s most demanding online and web-based processing environments depend on OLS for open architecture solutions and legacy application alternatives that offer proven performance, flexibility and the lowest cost of ownership.
Any organization offering non-cash payment alternatives to its customers may benefit from OLS’ capabilities: from banks and financial service providers to retailers; from pharmacy chains to healthcare providers and payers; from direct deposit ACH originators to payroll providers; and more. Visit OLS online at http://www.olsdallas.com.