Computop is the first German payment service provider to be awarded PCI P2PE Solution Provider certification.
Bamberg, 27 October 2015 – Computop is the first German payment services provider (PSP) to offer UK and EU retailers a certified point of sale (POS) solution based on P2PE encryption. P2PE stands for Payment Card Industry Point-to-Point Encryption and is an industry security standard developed by MasterCard and Visa to curb increasing theft and misuse of credit card data. It protects consumers and merchants from fraud.
The new standard ensures that credit card data is heavily encrypted during data transmission from the POS terminal to the payment service provider. Computop uses a new ‘key’ to encrypt each payment asynchronously so that the card data is absolutely secure as it passes through digital networks.
In addition to security, there are also financial benefits for retailers. In using P2PE POS terminals, retailers can dispense with the man-hours and costs invested in performing PCI security audits, which would otherwise be compulsory. Depending on the size of the company, this generates savings for merchants of between 50,000 and 1 million Euros per year.
Unlike standard POS terminals which follow national standards, Computop’s P2PE POS solutions know no national boundaries. International merchants can replace the various POS terminals in their foreign branches with Computop’s P2PE POS terminals. Worldwide standardisation reduces the merchant’s IT expenditure and the investment in training for checkout staff. Last but not least, P2PE is also mandatory for new technologies such as mobile POS terminals which are connected to tablets.
P2PE certification was conducted by Adsigo AG, which has more than 40 years of experience and has performed 500 assessments in the payment card industry.
“We are very proud that Computop is the first German payment service provider to be able to offer merchants in the UK and Europe P2PE POS terminals. With this P2PE solution, Computop protects customers’ credit card data and generates cost and time savings for retail,” said Ralf Gladis, founder and CEO of Computop. “Normally, a merchant has to undergo an extensive and costly PCI certification process. Computop’s P2PE-certified POS solutions remove the merchant's network from the scope of PCI compliance because communication is strongly encrypted. The extra security not only protects the customer’s data but also the merchant’s brand.”Back
As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. With this internally developed software, retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.
Computop, a global player with its head office in Germany and locations in China, England and the USA, has been servicing large international companies in the service, retail, mobility, gaming and travel industries for more than 20 years. These companies include global brands such as Bigpoint, C&A, Fossil, the entire Otto Group, Sixt and Swarovski. Computop also provides it payment system to banks and financial service providers as a white-label solution. Through its customer network and collaboration with the global marketplace Rakuten, Computop processes commercial payment transactions for more than 16,000 retailers annually, with a combined value of USD 34 billion. With its individual and secure solutions, Computop makes a major contribution to the future of international payment processing.
For further information, please visit www.computop.com.
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