New SaaS based EMV enabled transaction processing solution
New Hartford, NY- April 11, 2018 – ParTech, Inc. (PAR), a leading global provider of point of sale (POS) and workforce efficiency solutions to the restaurant and retail industries, announced the introduction of PAR Pay, a SaaS based EMV enabled transaction processing solution for processing credit, debit and store value cards. PAR Pay is seamlessly integrated as an extension of all PAR POS software solutions and supported by the PAR service infrastructure. PAR Pay will be available to all Brink and PixelPoint clients in June of this year.
ParTech, Inc. is a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR).
PAR customers have been seeking a faster, more flexible payment processing solution with market leading reliability and support. Mobile payment platforms combined with Quick Chip support dramatically improve the guest experience, while providing piece of mind through heightened fraud detection and security monitoring. PAR Pay’s gateway architecture provides real-time transaction visibility through a cloud-based portal, allowing anywhere access to view non-sensitive transaction and settlement details, analyze payment trends, reconcile payments and manage chargebacks across all stores securely from the Cloud. PAR Pay is also device agnostic, providing merchants with a long term, low cost flexible solution for processing payments.
PAR Pay will be introduced and highlighted at the PAR booth at MURTEC 2018.
Key features of PAR Pay include:
- Supports Apple Pay, Google Pay, Samsung Pay, and PayPal with Near Field Communication (NFC)
- Quick Chip support for EMV processing as fast as swipe
- Store & Forward for automatic approval of transactions during rare offline occasions
- Device agnostic where customers can choose from a selection of manufacturers and models
- Payment processor agnostic
- Tokenization allows for card on file functionality outside of the store
- Point-to-point encryption (P2PE)
- PCI-DSS and PA-DSS v3.2 certified
“An improved and frictionless guest experience is paramount at PAR. We are pleased to now offer a payment processing solution for our customers, which will allow them to meet their payment processing objectives, inclusive of security and speed of service,” said Paul Rubin, Chief Strategy Officer, ParTech, Inc. “The PAR Pay offering is tightly integrated with all PAR POS software solutions and is fully supported by our service teams and we are confident our customers will see significant value.”
ABOUT PAR TECHNOLOGY CORPORATION
PAR Technology Corporation’s stock is traded on the New York Stock Exchange under the symbol “PAR”. PAR’s Restaurant / Retail segment has been a leading provider of restaurant and retail technology for more than 35 years. PAR offers management technology solutions for the full spectrum of restaurant operations, from large chain and independent table service restaurants to international quick service chains. Products from PAR also can be found in retailers, cinemas, cruise lines, stadiums, and food service companies. PAR’s Government segment is a leader in providing computer-based system design, engineering and technical services to the Department of Defense and various federal agencies. For more information, visit https://www.partech.com/ or connect with PAR on Facebook and Twitter.
