Until now, the Caribbean market lacked a truly integrated Card Present payment solution to meet the needs of merchants. The POS software and payment terminals did not sync, thereby creating the need for dual entries, and often resulting in reconciliation issues.
Powertranz, a new payment gateway developed to process point of sale transactions in the Caribbean marketplace, solves this problem. In conjunction with local acquiring banks, we are able to provide merchants with integrated payments and PCI validated P2PE solutions within POS environments.
Our integrated POS payment solution provides POS software vendors with a lightweight integration point to enable integrated payment solutions for merchants in the Caribbean.
The fully equipped payment platform features PCI Validated Point to Point encryption (P2PE), which is the PCI Council’s standard for End to End encryption. PowerTranz brings PCI Validated P2PE to the Caribbean via our partnership with Bluefin Payment Systems.
We have developed EMV and card swipe Card Present functionality for the Powertranz processing platform to include Chip and Pin, Chip and Signature, and Magnetic stripe read capabilities. The platform provides an easy to integrate connection point for POS software.
PCI validated Point to Point Encryption encrypts card data at point of contact with the payment terminal — removing all credit card data from clear text from the merchants’ systems.
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The Argus Group (“Argus”), a multi-line insurance and financial services organisation is live with Powertranz, a sophisticated Bermuda-based Card Present platform with EMV and card swipe functionality that currently supports Chip and PIN, Chip and Signature, and Magnetic Stripe read capabilities with all banks in Bermuda as well as in 17 Caribbean countries.Read More