Net Element Inc., a provider of global mobile payment technology solutions and value-added transactional services announced today during the Money 20/20 conference in Las Vegas, Nevada, the integration of mobile payments acceptance including Android Pay, Apple Pay, Samsung Pay, Europay, MasterCard, and Visa (EMV) into Aptito, its proprietary cloud-based, hospitality focused POS system.
Money 20/20 is the largest global event focused on payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data, and technology.
Net Element has teamed with PAX Technology Inc. (PAX), one of the fastest-growing POS terminal providers, to provide contactless and EMV-compliant payment terminals through its Aptito cloud-based restaurant management payment system.
Aptito is a mobile Apple iOS-based restaurant productivity and omni-channel payment processing solution that improves restaurant efficiency, lowers POS deployment costs and enhances customer experience. Aptito’s cloud-based POS solution combines EMV-compliant end-to-end encryption and tokenization. Aptito provides merchants with the highest level of security available to protect against card-present data fraud. By removing card data from the transaction, the Aptito solution provides businesses with protection against POS intrusions, insider misuse, and other common sources of data fraud by eliminating the opportunity for criminals to monetize card data.
Aptito utilizes the PAX S300 contactless PIN pad, which is a reliable and easy-to-use device that accepts all types of electronic payments including Android Pay, Apple Pay, Samsung Pay, mag-stripe cards, and EMV chip cards. Effective October 1, 2015, all Aptito all-in-one POS solutions ship with a combined PIN pad and card swiper.
EMV chip-based “smart cards” and terminals are considered to be safer than credit or debit cards featuring a magnetic stripe because they contain computer chips that are used to authenticate each transaction. On Oct.1, 2015, the financial liability shifted to merchants who are not EMV-compliant in cases where a smart card is used for a fraudulent transaction at a standard terminal that only accepts a magnetic stripe.
Aptito now offers the latest integrated retail payment solution for merchants who wish to offer high levels of transactional security combined with contactless, e-Signature, magnetic stripe, and Chip & PIN. With state of the art levels of security design, including PCI PTS 3.x and SRED, the S300 protects and encrypts all transaction information. Featuring a large color touch screen, loudspeaker, 32-bit ARM11 processor, and massive amounts of memory for exceptional multimedia performance.
“We are excited to partner with Net Element,” says Andy Chau, president and CEO of PAX Technology Inc. “The combination of the PAX products with the PAX secure semi-integration solution through Net Elements’ POS system provides merchants with a payment solution that eases them into EMV and NFC seamlessly.”
“These integrations provide a competitive edge to the product and should facilitate Aptito sales efforts and increase transactional revenue,” says Oleg Firer, CEO. “PAX’s payment devices accommodate a wide variety of card payment options including NFC, mobile wallets, EMV, and contactless payments.”