Partnership to deliver PCI-validated, point-to-point encryption to campus
Campus card system provider, CBORD, has partnered with FreedomPay to provide higher education and other verticals with increased payment data security. The partnership will provide access to the FreedomPay Commerce Platform, enabling CBORD customers to deploy a PCI-validated, point-to-point encryption (P2PE) solution with EMV, NFC, Pay-at-Table, dynamic currency conversion and card data tokenization capabilities.
The FreedomPay Commerce Platform is designed to secure a range of payment environments and accommodate both online and offline payment technologies. The platform is fully integrated with CBORD’s point-of-sale provider Oracle Hospitality MICROS, enabling campus clients to deploy EMV-ready payment terminals and benefit from lower counterfeit fraud and card issuer charge-backs. The platform also enables users to securely process card-not-present transactions for inbound phone and e-commerce purchases.
“Adding the FreedomPay Commerce Platform to our broad array of solutions satisfies an immediate need for greater payment security across our diverse customer base,” says Sue Chaffee, Director of Product Management, CBORD. “FreedomPay offers our customers a single platform that solves all their payment security needs.”
Offering a PCI-validated P2PE payment solution with tokenization provides CBORD campus customers with card data security for all transactions by ensuring that sensitive cardholder data is encrypted and replaced with surrogate values.
By deploying a validated P2PE solution, card data is completely segmented from a customer’s POS register and network, resulting in a reduction in scope for annual PCI DSS compliance. Customers utilizing the solution will also see a reduction in auditing and documentation controls to 35, down from the normal 330.
“Our goal at FreedomPay is to continually develop innovative solutions for our partners complicated payment security issues,” says Christopher Kronenthal, chief technology officer at FreedomPay. “Our partnership with CBORD reinforces our commitment to securing payments anytime, anywhere and on any device.”
The FreedomPay Commerce Platform is designed to help simplify complex payment environments. The platform is validated by the PCI Security Standards Council for Point-to-Point Encryption (P2PE) along with EMV, NFC and DCC capabilities. The FreedomPay Commerce Platform operates on the Windows Platform and is fully supported by the Microsoft Azure cloud.