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Posted March 27, 2019 by FreedomPay

Tokenization and data – the value in unlocking loyalty at the Point of Sale

Merchants are no stranger to the transformational power of point of sale (POS) data. They already use it to link demand with inventory, create customer profiles for marketing and to spot buying trends in individual and across multiple locations.

However, the true commercial value of sales data lies in being able to drill down to individual customer’s buying behaviors – what they’re buying, where and when, and how they paid for it while staying data compliant.

Revenue hungry brands are eager to tap into this rich vein of data to re-energize their loyalty programs with seamless access to personalized content and tailored rewards. But, without the technology to link it securely to a specific customer, and across business functions, the prospect of meaningfully monetizing is lost.

Smart and safe: Harnessing data and tokenization

So how to unlock it? For omnichannel brands focused on driving stickier relationships, the easiest way to harness data and ID is using tokenization. This works by generating a customer identifier code or ‘token’ which is linked to the payment mechanism. Data from an individual’s sales journey can then be tracked invisibly, with no friction, and without compromising sensitive cardholder details.

Used in tandem with a connected commerce platform, tokens can be shared across business functions breaking down operational silos and connecting sales, CRM, social and marketing activities.

Near-money loyalty: Expanding tokenization

Not only that but tokenized points are 100% transferable and tradeable so they become a near-money currency across brands and outlets. This lends itself seamlessly for loyalty programs. Loyalty suddenly becomes more versatile, usable and attractive for customers – and a potential source of revenue for the merchant.

Using customer data in this way allows brands to execute loyalty as part of their business operations – as a platform not as a ‘point’ solution.

By doing so they can make the shift to truly seamless customer centric loyalty programs, delivering highly targeted and fluid rewards that flow smoothly between multiple vendors. Creating more value-rich experiences, boosting uplift and connecting with customers for longer.

All of this and more is just sitting on the POS waiting to be freed.

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Posted December 01, 2016 by FreedomPay

Make Holiday Shopping Safer with FreedomPay P2PE

As 2016 draws to a close, the next big national trend is a robust holiday shopping season, a sign that consumers are ready to spend again.

The National Retail Federation predicts a massive Thanksgiving shopping weekend, kicked off by Black Friday specials. More than 137.4 million Americans are expected to shop online or in stores over the four-day holiday weekend, up from 135.8 million last year, according to an NRF survey. If the forecast holds true, this could be an early sign of a strong holiday quarter.

While retailers certainly welcome increased traffic and sales, a rush on shopping, travel and dining out also leads to an increased risk of compromised credit card information. Fortunately, merchants can mitigate that risk for their customers with a point-of-sale solution that not only meets industry requirements but also take additional security steps.

Merchants can reduce their scope for PCI compliance and ensure that no cardholder data actually flows through their systems. FreedomPay’s Point to Point Encryption (P2PE) solution is fully audited and validated according to PCI standards, and supports traditional as well as emerging payment technologies such as EMV. It integrates with POS systems and payment processors. Merchants deploying the FreedomPay P2PE solution are covered under its PCI validation, and can raise their level of security compliance while delivering a safer experience for their customers.

For 2016, online sales are expected to increase seven percent – 10 percent over the previous year – to reach up to $117 billion, according to the NRF. FreedomPay’s Hosted Payment Page provides cardholder encryption for online purchases with a seamless integration into a retailers existing ecommerce site. Customers providing card information during the online checkout process will experience the same security as when they use their credit card at the store.

While EMV chip cards are gaining widespread adoption, most consumers and many merchants don’t understand that the EMV technology only prevents card duplication fraud. It does not secure payment data throughout the entire transaction chain.

With the FreedomPay solution, merchants can fill the security gaps left in the transition to EMV payments. The system integrates P2PE and tokenization to fill in the security gaps from the transition to EMV. With tokenization, credit card information is encrypted at the point-of-sale, and actual credit card data is replaced by a random code (token) in the merchant’s system. So if the system is breached, there is no actual data that can be compromised.

FreedomPay’s solutions are approved by the PCI Security Council to reduce the scope for PCI compliance. Using a non-validated P2PE solution that does not support the EMV chip cards leaves merchants exposed to liability for data breaches and fraudulent purchases.

As the use of mobile wallets increases, FreedomPay’s solution supports NFC payments through platforms such as Apple pay, Samsung Pay and Android Pay. Furthermore, as the payments ecosystem continues to branch out, FreedomPay adapts and evolves to support new opportunities as well as integrate with legacy technologies.

While holiday shoppers will be budget conscious as always, card data security is high on everyone’s wish list this year. That’s why FreedomPay’s goal is to stay on the leading edge of payments innovation and change the face of global commerce. There’s no better time to do that than the biggest shopping season of the year.

Interested in learning more about how we can help your retail operations deliver a great level of security to your customers? Visit us online at FreedomPay.com.

 

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Posted October 26, 2016 by FreedomPay

FreedomPay’s Pay-at-Table Solution Offers Enhanced Service and Security with Point-to-Point (P2PE) Encryption Technology

Tableside payment solutions are increasingly in demand in today’s competitive hospitality industry. The improved check-out times these systems provide benefit both consumers and proprietors. But these payment options come with challenges as well. What about security? Can restaurants assure consumers that their payment data is safe? What about new chip card and mobile wallet transactions? Can restaurants offer customers the convenience of these options tableside?

Firebirds Wood Fired Grill knows the answers to these questions as they prepare to roll out FreedomPay’s Pay-at-Table Solution at their 38 locations in the U.S. Recently recognized by Nation’s Restaurant News as a “Breakout Brand,” the company is as serious about security as it is about its signature dishes and drinks. FreedomPay’s Point-to-Point Encryption (P2PE) will provide PCI certified security for their transactions as well as the flexibility to process chip card (EMV) and mobile (NFC) payments.

FreedomPay was the first company in the U.S. to be certified in P2PE encryption by the Payment Card Industry (PCI.) PCI certification in data security standards reduces regulatory compliance burdens on vendors who choose FreedomPay’s payment solutions. Visit us online to learn how your business can benefit from improved service and unrivaled data security in your payment processing system.

Watch the video below to see just how simple Pay-at-Table is to use!

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Posted September 01, 2016 by FreedomPay

Commitment to Service: FreedomPay Customers Leverage Our Expertise

October of 2015 marked a big month for FreedomPay customers – it represented the deadline for merchants to transition more than one billion payment cards to the EMV standard, and upwards of 12 million credit card terminals at merchant locations.  FreedomPay’s advanced commerce platform made the transition easy, and merchants are lauding the service expertise FreedomPay provided along the way.

16107292990_9b0e0df1be_b “Ensuring the security of consumer payment data is a top priority for merchants across all industries,” said Chris Kronenthal, Chief Technology Officer of FreedomPay. “Working with leading organizations in lodging, gaming, retail, foodservice, healthcare and higher education to implement PCI best practices including EMV, tokenization and Validated P2PE, FreedomPay is helping merchants secure their payment environment, prevent EMV liability exposure and reduce scope for PCI compliance.”

While FreedomPay’s innovative technology is the key to making transactions easier and more secure for customers, providing service that goes the extra mile is what sets us apart. This emphasis on service is why we offer on-site support for our stored-value program rollouts.  Clients of all sizes benefit from hands-on training and support for product launches.  For instance, we spend one day a week at the headquarters of one of our largest foodservice clients to ensure that we are meeting their needs as a partner.

We supply day-to-day account management to merchants to ensure their satisfaction. Our ten-person management team delivers expertise and experience in the payment industry, assisting our partners to solve for multifaceted challenges on demand.

Here at FreedomPay, we take pride in the fact that all members of the product support department are passionate about solving problems and finding technical solutions that truly address the needs of our customers.

We understand that our merchants aim to provide quality customer service, which is why we provide the same in return – especially during industry shifts like the transition to EMV.

When you partner with FreedomPay, you can rest assured that our team will provide exceptional, ongoing support to ensure that the products and services you use are deployed to your full satisfaction and are 100% operational.

Need help with anything? Our support team is available to current customers, partners, and future prospects. Visit FreedomPay online to learn more about our phenomenal customer service!

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Posted January 01, 1970 by FreedomPay

Tokenization and data – the value in unlocking loyalty at the Point of Sale

Merchants are no stranger to the transformational power of point of sale (POS) data. They already use it to link demand with inventory, create customer profiles for marketing and to spot buying trends in individual and across multiple locations.

However, the true commercial value of sales data lies in being able to drill down to individual customer’s buying behaviors – what they’re buying, where and when, and how they paid for it while staying data compliant.

Revenue hungry brands are eager to tap into this rich vein of data to re-energize their loyalty programs with seamless access to personalized content and tailored rewards. But, without the technology to link it securely to a specific customer, and across business functions, the prospect of meaningfully monetizing is lost.

Smart and safe: Harnessing data and tokenization

So how to unlock it? For omni-channel brands focused on driving stickier relationships, the easiest way to harness data and ID is using tokenization. This works by generating a customer identifier code or ‘token’ which is linked to the payment mechanism. Data from an individual’s sales journey can then be tracked invisibly, with no friction, and without compromising sensitive cardholder details.

Used in tandem with a connected commerce platform, tokens can be shared across business functions breaking down operational silos and connecting sales, CRM, social and marketing activities.

Near-money loyalty: Expanding tokenization

Not only that but tokenized points are 100% transferable and tradeable so they become a near-money currency across brands and outlets. This lends itself seamlessly for loyalty programs. Loyalty suddenly becomes more versatile, usable and attractive for customers – and a potential source of revenue for the merchant.

Using customer data in this way allows brands to execute loyalty as part of their business operations – as a platform not as a ‘point’ solution.

By doing so they can make the shift to truly seamless customer centric loyalty programs, delivering highly targeted and fluid rewards that flow smoothly between multiple vendors. Creating more value-rich experiences, boosting uplift and connecting with customers for longer.

All of this and more is just sitting on the POS waiting to be freed.

SHARE NOW