TSYS and TranSend, a provider of payments infrastructure software, announced yesterday (Nov. 10) that its RevChip EMV application is certified.
TranSend’s RevChip product is tailored specifically to the U.S. market and is designed to remove the complications of EMV security certification for Value-Added Resellers (VARs), Integrated Software Vendors (ISVs) and their respective merchant customers by disconnecting their systems from the flow of sensitive payment card data.
“We are extremely pleased that RevChip has earned TSYS certification,” Terrence Crowley, CEO of TranSend, said in a press release. “Pre-certified solutions expedite EMV implementations for VARs, ISVs and merchants, plus quickly reduce their risk of POS system breaches.”
RevChip also offers many EMV features that can be helpful to restaurants, such as tip adjustment, bar tab capabilities, partial payment with low-balance gift cards and a no-signature option for quick service environments.
According to TSYS and TranSend, restaurants continue to face specific challenges as the U.S. shifts to the EMV security standard, including the fact that many EMV point-of-sale applications do not accommodate customary tip adjustment functionality.
The standard in other EMV-accepting countries is that restaurant transactions are completed tableside based on the final payment amount, whereas in the U.S. the gratuity is only added to the transaction amount after the payment is authorized.
But RevChip brings the customary tip adjustment option to U.S. restaurants, providing a long-awaited service to the market.
“Restaurants are key to U.S. EMV migration, so meeting their needs is critical,” said Craig Ludwig, head of product for TSYS’ merchant services segment. “The RevChip software application is highly valuable in helping our VAR and ISV business partners — as well as our merchants — satisfy U.S. market requirements.”
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