Analyst says Vantiv unique in EMV's drive toward stronger security adoption

Vantiv Integated Payments has announced a second phase of its Security Pays campaign, which was first announced in August 2015. The Security Pays 2.0 initiative promotes education and awareness, driving the adopt of security products—such as end-to-end encryption, tokenization and EMV, to add protection to the payments process.  

Talking about the first phase, Matt Taylor, group president of integrated payments and emerging channels at Vantiv, said, "In the first Security Pays campaign, we deployed more than 10,000 EMV devices to businesses. But we realized that is just the top of the iceberg.  That's why we are launching 2.0 to reach even more partners and merchants to continue the adoption of EMV, point-to-point encryption and tokenization technologies at the point-of-sale, and to make the payments ecosystem safer, better educated and more successful." 

Nearly 1,000 Vantiv partners participated in the first wave of the campaign, which focused on encouraging payment partners to become certified as Qualified Integrators and Resellers (QIR).  So far, 67 Vantiv partners have passed the tests and now have the QIR certification.  This represents more than 3/4 of all the companies with this certification in the U.S.  "Vantiv Integrated Payments is doing something that no other company is doing in the payments industry," said Thad Peterson, senior analyst at Aite Group.  "Vantiv is focusing not only on education but on implementation at the merchant level to promote secure behaviors and products.  You can already see the change based on the Security Pays 2015." 

According to Matt Downs, senior vice president of integrated payments at Vantiv, "This new program will also focus on helping partners and merchants with additional awareness on industry changes, and subsidies on products and hardware that will make such a difference in their security to ensure the integrity of the payments system." 

CenterEdge Software, which offers management solutions for entertainment, amusement centers and restaurants, was Vantiv Integrated Payments first partner to process an EMV transaction on the Vantiv platform and one of the companies that passed the QIR exams.  "We know that is a differentiator for us in the marketplace," Marcus Mayer, president of CenterEdge Software, said. "Becoming EMV-ready has been a huge success for our sales and marketing teams, and the entire process was seamless." 

Because forensic investigations reveal that small merchants remain a prime target of hackers who are trying to compromise payment data, Visa has now required that all acquirers ensure all merchants use QIR companies by January 2017. "We need to do all we can to promote point-to-point encryption, tokenization and EMV chip to help take sensitive payment information out of merchant systems and make them less attractive targets for hackers," said Sonia Sng, senior director of data security and third party risk, Visa Inc.

Learn more about Vantiv's OmniShield Assure bundle for small businesses.  And, learn more about the Security Pays 2.0 campaign and Vantiv's  integrated payments solutions for small business.