Starting today (Oct. 1), businesses not prepared to process EMV chip card transactions could be held liable for fraudulent transactions.
And to stay ahead of the curve, Cayan, a payments technology innovator, announced yesterday it had turned on its EMV capabilities for customers a day prior to the liability shift. As other payment companies work to get up to speed on EMV certification, Cayan has completed its EMV certification process — including level 2 and level 3 certifications — using First Data Corporation’s Rapid Connect gateway.
Cayan certifications include a kernel for Cayan’s Genius Customer Engagement Platform, which enables the ability to remotely update applications in the field. As a result of the certification, groups of Cayan customers will be able to seamlessly accept EMV transactions on the same Genius platform without needing to upgrade hardware or implement new software.
“In this competitive payments landscape, Cayan is always thinking about how we can provide industry-leading, secure, future-proof solutions to our customers. While others scramble to prepare businesses for the Oct. 1 EMV liability shift, Cayan partners and customers know that we’re prepared for them,” said Henry Helgeson, CEO of Cayan. “Our approach allows our team of developers to control the entire customer experience around EMV to avoid common delays and development roadblocks associated with out-of-the-box manufacturer terminals. We’ve been working with our POS partners to certify their integrations for months now.”
“Achieving level 2 and level 3 EMV certification is no easy feat,” said Marc Castrechini, VP of product management for Cayan. “I am proud that our team’s commitment to providing ultimate flexibility for our customers has positioned us to certify with a number of the key processors this year and all the major processors in the coming months.”
According to the company, Cayan began its EMV strategy long ago to ensure its customers would be prepared. To help achieve this goal, Cayan said it “expanded its in-house resources, growing product and technology teams to 130 employees who focused solely on EMV and product development.”
“This team will continue to activate EMV for customers prior to the Oct. 1 deadline and over the coming weeks. This includes both non-integrated and integrated EMV acceptance solutions,” the company wrote in a news release.
Beyond its ability to perform fully reconciled EMV chip card transactions, Cayan’s Genius platform delivers eCommerce and card-not-present payments enabling omnichannel capabilities through one single platform. Genius also supports NFC payments, like Android Pay and Apple Pay, manually entered and swiped credit and debit transactions, gift and loyalty solutions and payment platforms, like LevelUp.
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