Press Release

CT-Payment is pleased to announce that its payment switch has been certified for Interac FlashTM

CT-Payment, the leading independent Canadian payment processor that is fully autonomous of financial institutions and credit card acquirers, is pleased to announce that it has enabled Interac Flash using an MSC software application.

While the company is currently in the process of certifying a wide range of terminals that integrate Interac Flash readers, CT-Payment can now immediately respond to the needs of its large retail partners and ISOs whose merchants use a Hypercom T4220 solution. Through a cost effective external Interac Flash reader solution, merchants avoid the cost burden otherwise related to terminal conversion.

President and CEO of CT-Payment Mr. Denis Robert explains: “We are extremely pleased to continue to take a leadership role in deploying new payment technologies to the market. CT-Payment has always been focussed on helping our ISOs and direct retail clients to access value added payment solutions, and this is a great example of that. We have now enabled our client-partners to have their terminals upgraded to accept Interac Flash transactions. This initiative is only the first part of CT-Payment’s overall strategy to provide widespread support for contactless transactions of all types on our host system.”

For debit transactions, the Interac Flash contactless feature will deliver considerable advantages because everyday purchases under $100 can be transacted more quickly and efficiently. The benefits of completing a sale by merely holding an Interac Flash enabled debit card up to an Interac Flash enabled terminal are expected to result in fewer lost sales due to line ups and slow check outs, and will help merchants to serve more customers more quickly.

Contactless readers are available from MSC and are certified with CT-Payment. Merchants only require the terminal software update but will continue to use their existing (Hypercom T4220 series) terminal, so this exciting solution can be used with devices that have been deployed in the past, and are already in-market.

Mr. Robert adds that “CT-Payment is level one PCI certified, and now Interac Flash leverages the security of chip technology to offer a secure payment environment for these debit transactions.  And as a Direct Connector with Interac Association, CT-Payment performs full authorization and settlement services”.

About CT-Payment Inc.

CT-Payment (CTP) is Canada’s largest debit- and credit-card processing company to be fully independent of Canadian financial institutions and acquirers. As a member of Interac® and a debit acquirer, CT-Payment delivers integrated debit authorization and settlement services on behalf of its customers and business partners. As an experienced multi-acquirer service provider, CTP offers transaction processing for point-of-sale debit and credit terminals, customized web-payment integration solutions, and the management of loyalty programs. CT-Payment further specializes in the development of platforms for emergent technology in the North American payment-processing ecosystem. It fully complies with PCI international security standards.

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