Powerful First Data Transaction Technology Supports Apple Pay, Launching Today
First Data Supports Apple Pay in Two Ways: Protecting Data During the Transaction and Offering Developers an InApp Experience with PayeezySM
ATLANTA – Oct. 20, 2014 – When Apple Pay launches today, financial institutions participating in Apple Pay can use First Data, the global leader in payment technology and services solutions, to create secure tokens and provision credit cards on the Apple Pay service. First Data financial services sector partners Wells Fargo and Bank of America Merchant Services are among the first financial institutions to offer Apple Pay, while a number of First Data merchant partners are among those now accepting the payment service.
Today, Apple Pay ushers in a new era of digital payments, and First Data is there to process secure and easy transactions for our clients,” said Frank Bisignano, First Data’s Chairman and CEO. “First Data technology is designed to work with Apple Pay, and broadens First Data’s experience with the newest and most innovative payment systems, which helps our financial institution, merchant and software developer clients grow their businesses.”
Protecting Consumer Data During the Transaction
The arrival of Apple Pay opens a world of opportunity for merchants of all sizes to grow their businesses. Consumers are looking for a transaction experience that is as easy as placing their phone near a point-of-sale terminal.
First Data supports the safety of both online and point-of-sale transactions. A process called “tokenization” ensures the consumer’s credit or debit card data is not shared during transactions. A token is a number that is not related to a customer’s account number. With cardholder information protected by the token, account numbers are shielded and inaccessible to compromise, reducing the risk of fraud.
Contactless terminals are part of popular modern terminals for merchants looking to prepare for upcoming migration to EMV™ chip card acceptance in 2015. First Data provides a range of contactless terminal options that are ready to accept both this latest technology and chip-enabled cards at the point of sale.
First Data Offers the In-App Experience through Payeezy
The First Data eCommerce solution, called Payeezy, is a simple, powerful eCommerce payment option that lets merchants and their app developers build iOS apps accepting Apple Pay for physical goods and service purchases. Developers begin by visiting Payeezy.com, downloading the software development kit (SDK) and supporting documentation needed to build the app. This SDK also provides the tools to be able to accept Apple Pay in their iOS apps.
Since 2013, First Data has focused its strength on driving advances in global commerce, recently introducing the small business solution Clover™ Station, which transforms the point of sale into a dynamic business system. First Data’s InsighticsSM solution, Perka™ loyalty and Gyft prepaid solutions further enhance the small business experience. First Data taps into its history as a trusted payments processor, and reflects First Data’s continuing transformation into one of the world’s leading tech companies to bring tomorrow’s innovations to market today.
About First Data
First Data is a global technology leader in the financial services industry. With 24,000 employee-owners and operations in 35 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world, from small businesses to the world’s largest corporations. Today, businesses in nearly 70 countries trust First Data to secure and process more than 2,000 financial transactions per second, totaling $1.8 trillion a year. First Data’s unparalleled infrastructure, scale and partnerships go “beyond the transaction” with next-generation point-of-sale technology fueled by powerful analytics to detect fraud, gain insights into consumer spending, and strengthen customer loyalty. All day, every day, First Data helps its clients thrive in the evolving world of commerce.