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Microtronic US announces that the Generation6, to be demonstrated at the National Automatic Merchandising Association Spring Expo in Las Vegas April 15 to 17, will be available in the second quarter of 2009 and will include the company's MICROpay technology. MICROpay will be PCI PED-certified (Payment Card Industry Pin Entry Device, developed by American Express, Discover, JCB, MasterCard, Visa) according to the new version 2.4. This new compliance represents a fundamental added value by preventing fraudulent attempts of getting credit card data out of the reader. If the credit card unit is unplugged or taken away from its physical installed position it will destroy all data inside.
“MICROpay will provide a cutting-edge technology to maximize customers' data security combined with top of convenience,” explained Greg Sidwell, vice president of Microtronic US, in a prepared statement.
Terri Starnes-Bryant, president, stated “With our main 'in-house' vending environment, no data leaves the source or is transferred from the source to anywhere else. This means that no manipulation of data is possible outside of our scope. In a “network” environment we still have full control of all data because when transferring information across a network, our data is DES (Data Encryption Standard) encrypted from the source through the end of the chain. As an added value Microtronic has always geared itself to protect customer information with the latest technology means.”
A global innovation in the credit card industry was launched in February 1999 when EMVCo, LLC (Europay International, MasterCard International and Visa International) was formed to manage, maintain and enhance the EMV™integrated circuit card specifications for payment systems. With the acquisition of Europay by MasterCard in 2002 and JCB joining the organization in 2004, EMVCo is currently operated by JCB International, MasterCard Worldwide and Visa, Inc. An EMV™Integrated Circuit credit card has a visible chip with programmable intelligence storing information at a very high data encryption level. This guarantees maximum data security already at the source of information namely on the credit card itself. EMV™credit card terminals directly communicate with the chip and prevent fraudulent interceptions already at the source point of transaction.
The global credit card industry will move forward from the magnetic stripe system towards EMV technology. In Europe for example every new credit card project must be EMV™compliant since April 2008. EMV™credit card terminals, of course are backwards compatible to accept pure magnetic stripe cards, too.
Microtronic's new universal payment system will be released in a couple of months under the name of MICROpay. One of the main innovations is the universal credit card acceptance:
- EMV™ Integrated Circuit credit cards
- EMV™Contactless credit cards
- Magnetic Stripe credit cards
- Magnetic Stripe Contactless credit cards
