KING OF PRUSSIA, Pa., January 17, 2017 -- CardConnect® (NASDAQ:CCN) today announced the official launch of Bolt P2PE, the latest of the company’s point-to-point encryption solutions. Bolt P2PE is a cloud-based solution that allows software companies to integrate CardConnect’s PCI-validated point-to-point encryption with any software application and devices for card-present transactions.
Last month, CardConnect announced the beta release of Bolt P2PE and engaged Task Retail Technology, an enterprise point-of-sale solutions company, as a major partner during the testing phase.
“We want our confidence in securing payment information to match our confidence in the power of our point-of-sale systems, which makes CardConnect the ideal partner for us,” said Jonathon Sellers, General Manager and Executive Vice President of Task Retail Technology. “The release of Bolt P2PE bespeaks this partnership’s pioneering approach to payment technology, and we look forward to successfully implementing the solution to its fullest capacity.”
All Bolt P2PE-integrated devices are protected with CardConnect’s patented security technology, CardSecure®. The cloud-based solution works by receiving a request from a software application through CardConnect’s standard, RESTful API. Once a device receives a command, a customer is prompted to initiate a payment. Upon swiping or dipping a credit card, the cardholder data is instantly protected by the P2PE and tokenization of CardSecure®. When the card information is created into a token, that token is then communicated to the software, ensuring unprotected payment data is never stored within an application’s system.
“We always recommend to our customers that they employ a multi-layered security approach for their payment systems. P2PE is an important piece of that strategy,” said Rob Martin, Vice President of Security Solutions at Ingenico Group. “CardConnect’s trusted security solutions integrate well with our smart terminals, making it easy for any business to implement a seamless, secure and reliable payment solution.”
CardConnect offers integration with plug-and-play, P2PE devices including Ingenico Group’s iSC Touch 250, iPP 320 and iPP 350 smart terminals, which are equipped to accept a variety of payment methods, including EMV chip & PIN, EMV chip & sign, magstripe and NFC/contactless, including Apple Pay and Android Pay. Future releases of Bolt P2PE will include compatibility with bluetooth and wireless-enabled Ingenico Group payment solutions.
“The launch of Bolt is a first for the industry. We’re offering technology companies a solution that bundles merchant acquiring, card-present device APIs and card-not-present APIs,” said Jeff Shanahan, Chief Executive Officer and President of CardConnect. “We’re proud of the sophisticated development that went into this product and how simple it makes the payment device integration process.”
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CardConnect (NASDAQ:CCN) is a leading provider of payment processing and technology solutions, helping more than 65,000 organizations – from independent coffee shops to iconic global brands – accept billions of dollars in card transactions each year. Since its inception in 2006, CardConnect has developed advanced payment solutions backed by patented, PCI-validated point-to-point encryption (P2PE) and tokenization. The company’s small-to-midsize business offering, CardPointe, is a comprehensive platform that includes a powerful reporting and transaction management portal which extends to a native mobile app. For enterprise-level organizations, CardSecure integrates omni-channel payment acceptance into several ERP systems – such as Oracle, SAP, JD Edwards and Infor M3 – in a way that minimizes PCI compliance requirements and lowers transaction costs.