Minneapolis, MN (August 4, 2015) — Global restaurant technology leader WAND Corporation has introduced a new Payment Software option and EMV terminals from Verifone and Ingenico to its popular restaurant Point of Sale (POS) systems. The EMV terminals allow for chip/cards to be dipped into them versus swiped on the POS which adds a new dimension of security to protect against credit card fraud, and the new software dramatically decreases the likelihood of hackers obtaining credit card information during the process of conducting transactions. They are being purchased by customers who are preparing for the upcoming October 1st liability shift where liability will shift from the credit card companies to the merchants.
“The EMV liability shift is obviously a huge topic in the restaurant industry,” says Chuck Gehman, VP of Product Management at WAND. “What we’re seeing is a large number of customers who are getting their EMV terminals in place now, even if their chosen payment processors aren’t completely ready yet, because there are such great benefits to be recognized.”
Gehman said the software and EMV terminals will protect multi-unit restaurant operators even before the October 1st deadline because the liability will generally shift away with the installation of the software and equipment.
An additional major benefit of the solution is the conversion of the POS system to a “Payment Unaware” state, which can reduce the compliance burden restaurants face on a recurring basis, and potentially lower ongoing costs.
Benefits vary from one terminal to another, and from one processor to another. WAND supports more than 20 processors, offering varying additional degrees of security and compliance benefits—such as how encryption is handled. The type of solution WAND is bringing to market is likely to act as a deterrent to hackers who have been steadily targeting retail POS systems across the nation.
“It’s not just about going out and buying a bunch of EMV terminals. Restaurant operators should talk to both their POS provider and their payment processor to identify the right technology and business match for their unique needs.” says Gehman. “As the deadline approaches, we’ve seen a great deal of interest from our customers and have had many discussions about how to turn this potential burden into an opportunity.”
An added benefit of the new WAND solution is that the software and terminals offered as part of the solution support Near Field Communication technology for contactless payments. In addition to offering similar security benefits to the chip card in the transaction process, Contactless payments such as the incredibly popular Apple Pay and Google Payments, which offer restaurants a “cool” factor: that appeals to coveted demographics such as youthful and affluent consumers.
WAND is planning to install its new software and EMV terminals at hundreds of QSR and Fast Casual restaurants throughout the United States in the coming months and expects volumes to continue throughout 2016 as more restaurants deploy these terminals.
About WAND Corporation
WAND Corporation is the global technology leader for the restaurant industry partnered with the most well-known and world-class brands in the business. Delivering on our mission to be the greatest restaurant management and technology partner in the world, WAND delivers Digital Menu Board, Point of Sale and Back Office through the next generation cloud-based Total Restaurant Management (TRM) platform.