2013-02-20 03:18:45 -
Vantiv First U.S. Acquirer to Complete Mandate Requirements
to Process both EMV Visa and Interlink Transactions
Single Integrated Processing Platform Continues to Enable Vantiv to Quickly
Integrate New Technologies
Largest U.S. PIN Debit Acquirer Continues to Provide Leadership in Transitioning
Merchants to EMV
Cincinnati - Feb. 19, 2013 -
Vantiv, Inc. (NYSE: VNTV), a leading provider of
payment processing services and related technology solutions for merchants and
financial institutions of all sizes, announced today that it is the first U.S.
acquirer to complete host testing requirements to process both Visa and
Interlink EMV transactions in support of the EMV acquirer mandate.
EMV is a global standard for credit and debit payment cards based on chip card
technology with enhanced security. Embedded in the card is a microprocessor
containing cryptographic processing techniques, which when utilized, make card-
present payments more secure. More than one billion card users outside the
United States are currently utilizing this technology, and U.S. acquirers are
required to certify their processing platforms by April 1, 2013.
"We are proud to be the first U.S. acquirer to achieve this integration with
Visa," said Carlos Lima, Chief Operating Officer at Vantiv. "To assist our
clients with the coming EMV liability shift, being the first to offer EMV
acceptance for both Visa and Interlink is essential and is a testament to our
strengths in quickly implementing new payment technologies and compliance
Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer
in the United States based on number of transactions, and processes for 8 of the
top 25 retailers in the nation with volumes weighted towards non-discretionary,
everyday spend categories.
"Visa is pleased Vantiv is able to support EMV processing ahead of the acquirer
processing mandate and meet the needs of merchants and financial institutions
who want to adopt EMV chip technology," said Stephanie Ericksen, Head of
Authentication Product Integration at Visa Inc. "Meeting this milestone
demonstrates Vantiv's commitment to EMV technology."
As a leader in the industry, Vantiv is the only U.S. headquartered acquirer to
serve on the Board of Advisors of EMVco, and is one of two acquirers recently
elected to the Smart Card Alliance EMV Forum Steering Committee. The Company
also participates as a key member of the Merchant Advisory Group's EMV Forum.
"At Vantiv, we work to ensure our clients are informed and prepared for this
important transition," said Patty Walters, Senior Vice President for Merchant
Products and Security at Vantiv. "EMV offers merchants and financial
institutions new ways to limit counterfeit fraud and provides their customers a
more secure shopping experience. While today is an important milestone for
Vantiv, we remain focused on continuing to educate our clients and partners to
ensure a seamless, timely transition for the entire industry."
Vantiv's integrated processing platform continues to enable the Company to
quickly integrate new technologies such as EMV. This, combined with Vantiv's
comprehensive suite of payment solutions, represents the Company's continued
investments in its core processing platform, emerging technologies and strong
execution capabilities, which expand choice and acceptance options for merchants
Vantiv is on track to achieve its remaining EMV network certifications by April
1, 2013. For more information about Vantiv, please visit vantiv.com or on
Twitter, Facebook, LinkedIn and Google+.
(* 1) By Revenue in 2011
Director of Public Relations for Vantiv
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor
differentiated by a single, proprietary technology platform. Vantiv offers a
comprehensive suite of traditional and innovative payment processing and
technology solutions to merchants and financial institutions of all sizes in the
U.S., enabling them to address their payment processing needs through a single
provider. We build strong relationships with our customers, helping them become
more efficient, more secure and more successful. Vantiv is the third largest
merchant acquirer and the largest PIN debit acquirer based on number of
transactions in the U.S. The company's growth strategy includes expanding
further into high growth payment segments, such as ecommerce, mobile, prepaid
and information solutions, and attractive industry verticals, such as business-
to-business, government, healthcare and education. For more information, visit
© Copyright Vantiv, LLC. All rights reserved. Vantiv, the Vantiv logo, and all
other Vantiv product or service names and logos are registered trademarks or
trademarks of Vantiv, LLC in the USA and other countries. ® indicates USA
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vantiv, Inc. via Thomson Reuters ONE