Payment processing firm CardConnect is targeting transaction security with its latest offering. The company said Tuesday (Jan. 17) that it is rolling out Bolt P2PE, a point-to-point encryption service enabling software companies to integrate the firm’s encryption offerings.
The encryption tool, part of a suite of similar solutions offered by CardConnect, will allow software firms to integrate encryption with both cloud-based software apps and physical devices for card-present transactions. The full release comes one month after CardConnect announced the beta release of its solution. At the time, the firm highlighted Task Retail Technology as a key partner in the initiative.
“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 Task Retail Technology General Manager and Executive Vice President Jonathon Sellers in a statement. “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.”
Based in the cloud, Bolt P2PE integrates its encryption capabilities into devices and apps and links with CardConnect’s existing payments technology, CardSecure. When payment is made via card, that payment data is immediately encrypted and tokenized.
“The launch of Bolt is a first for the industry,” CardConnect Chief Executive Officer and President Jeff Shanahan said in a statement. “We’re offering technology companies a solution that bundles merchant acquiring, card-present device APIs and card-not-present APIs. We’re proud of the sophisticated development that went into this product and how simple it makes the payment device integration process.”