NewswireToday - /newswire/ -
Jacksonville, FL, United States, 2013/08/01 - FIS™, the world’s largest provider of banking and payments technology, has completed the full rollout of its TRANSAXpay card encryption and payment processing solution at 340 Costcutter stores - Costcutter.com / FISglobal.com. NYSE: FIS
• FIS payment solution delivers encrypted card processing to increase the security of confidential payment card data for customers.
• Rolled out to 340 franchised stores and over 1,000 points of sale.
• Enables Costcutter Supermarkets Group to be amongst first to offer contactless payments in the UK convenience store market.
The rollout sees the technology implemented at over 1,000 point of sale PIN Entry Devices, providing fast and secure card payment transactions which also help to reduce customer queue times.
TRANSAXpay helps retailers meet the demands of the Payment Card Industry Data Security Standard (commonly referred to as PCI DSS). The system encrypts customer card data at the PIN entry device. This data is then routed through to the FIS Payment Gateway, a PCI DSS Level 1 certified environment, for authorisation, settlement and financial reporting. Having addressed these fundamentals, retailers can benefit from faster connection times, greater reliability and access to emerging payment technologies ahead of their competitors, without placing huge demands on their in-house IT operations.
“With FIS as our payment processing partner, Costcutter Supermarkets Group is one of the first to offer contactless payments in the convenience store market,” said Matt Leary, National Epos Manager, Costcutter Supermarkets Group. “With the TRANSAXpay solution, we will also see improvements in the speed of transaction processing for our franchisees whilst ensuring that our customers’ card data is encrypted and stored securely by FIS.”
Whilst no card data will be stored on any Costcutter Supermarkets Group system, the retailer will also benefit from instant, secure access to a full suite of real-time reporting on all card transactions and 24-hour technical support and monitoring of the FIS Payment Gateway. The FIS technical infrastructure will also ensure the highest level of service availability, a factor that is especially important to the convenience group as many of its stores operate outside standard opening hours.
“We are delighted that Costcutter Supermarkets Group joins a number of other leading retailers who have invested in improving card data security for their customers with the TRANSAXpay service,” said Simon Dickinson, General Manager of FIS Merchant Payments. “Costcutter Supermarkets Group has taken a proactive approach to payment security and TRANSAXpay will help them to stay ahead by offering their customers a faster, more convenient and secure way to pay.”
TRANSAXpay provides retailers with a payment processing solution that includes card data encryption and tokenisation services. Delivering upon FIS’ development and implementation experience with payment acceptance, card data security and consumer payment experience, the solution enables retailers to better manage all their card transactions and adhere to the latest card data encryption and security standards.
FIS is a long established and leading provider of secure payment processing solutions that enables 12,500 retailers, hospitality and fuel vendors across Europe to accept payments more securely online, at their mail order / telephone order centres or at over 80,000 stores.
About Costcutter Supermarkets Group
• Costcutter Supermarkets Group is predominantly a franchise business, with over 1,700 convenience stores throughout the UK and Republic of Ireland.
• Founded in 1986, Costcutter Supermarkets Group directly employs over 600 people nationwide and has its head office in York and an office in Belfast.
• The group has grown from just seven retailers in the York area into a truly nationwide business with stores across England, Wales, Scotland, Northern Ireland and Republic of Ireland.
Costcutter Supermarkets Group (costcutter.com) is a wholly owned subsidiary of Bibby Line Group (bibbylinegroup.co.uk) and part of the Bibby Retail Services division.
Bibby Line Group is a diverse portfolio of companies involved in business services and asset management activities across the globe. The family-owned business was founded in 1807 and has its headquarters in Liverpool.
FIS (fisglobal.com) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500® Index.
Mary Waggoner, Senior Vice President FIS Investor Relations
P: +1.904.438.6282 - E: mary.waggoner[.]fisglobal.com.