The Silicon Review
“Vantiv balances superior support, product and development capabilities for US retailers”
An innovative company that provides all things payments processing is catching the attention of many developers, tech partners and businesses across the United States. Vantiv is becoming the go-to gateway for all that is possible in merchant services and payment card processing helping businesses and developers provide their customers with simplicity and card data security.
Connected consumers discover and transact anytime, anywhere. Developers know they have to provide this seamless experience. From helping small businesses integrate points-of-sale, to fueling eCommerce faster than the speed of light, to activating Omni-channel retailing in the biggest box sense, more and more developers are partnering with Vantiv to provide all forms of payment processing and payments security. From independent software vendors, to value added resellers and independent sales organizations as well as financial institutions referral partners, Vantiv works with all partners to enable commerce where and how the consumer chooses.
Going candid with the executives
Why was the company set up?
Vantiv is a leader in payments processing, a company that started more than 40 years ago with several large enterprise merchants including Kroger, Macy’s and Wal-Mart. Later Vantiv expanded, through the acquisition of Mercury Payment Systems, into integrated payments and eCommerce, through the acquisition of Litle & Co., gaining customers like Ziosk and Darden Restaurants. Vantiv excels in several verticals including restaurants, grocery, drug store, and retail, leading the U.S. in processing “Every Day Spend” with 37 of the top 100 merchants in the U.S.
Tell us about your new product triPOS mobile and triPOS cloud?
Vantiv recently announced two new products triPOS Cloud and triPOS Mobile, as an extension of the triPOS product line. They are both launching widely in the first quarter of 2017. Now equipped for every use case, software developers creating innovative point of sale solutions can integrate via the cloud or a native application.
Know more : https://developer.vantiv.com/
“The innovation occurring in the point of sale software development market is accelerating quickly, and Vantiv is excited to deliver these robust solutions to mobile and cloud developers and resellers. With smartphones and tablet-based POS systems disrupting the traditional PC based POS market, triPOS is able to evolve with your business and works for most merchant industries operating in-store or on the go,” said Coy Christensen, senior leader Product, Vantiv Integrated Payments.“triPOS will not only enable the latest payment technologies, including emerging payments like Apple Pay and Android Pay, but it helps protect customer data with validated point to point encryption (P2PE), tokenization and EMV.”
How do you see triPOS mobile and cloud helping your customers now and over the next five years?
As mobile devices including tablets are replacing traditional PC based point of sale, triPOS mobile plays a critical role in connecting the POS application with the devices while helping to secure cardholder data. Without the innovation of triPOS for mobile devices, tablet-based POS would not be compliant with industry required EMV certification and the merchant POS would be at a higher risk for potential breach. With increasing threat from hackers and evolving security requirements, there is an urgent need to encrypt cards at the source of the card swipe which the triPOS family does. As the POS applications are becoming more and more cloud-based, replacing in store applications, triPOS cloud will become even more critical to connect to the devices and continue to meet with EMV, security, and future compliance requirements.
How will mobile payments, ecommerce and omni-channel fit into payment processing in the future?
In the future, boundaries between various channels including mobile, retail, and eCommerce will blur and omni-channel will become the single channel. As this evolution happens, the payment processing will shift to supporting omni-channel payment processing, where users can buy in one channel and return via another channel, or order via one channel and pick it up another channel. The payment experience will change from just collecting a credit card, to an experience across the various channels.
Where do you see you and your company a couple of years from now?
In the next few years, we see Vantiv continuing to become the global leader in payment processing, disrupting many traditional players. Vantiv is at the cutting edge of payment processing, creating better and more secure ways to simplify the payment process while looking to add capabilities and value added services in a way to support the future needs of the merchants. Vantiv also aims to help all developers to create a better merchant to consumer experience. Vantiv’s goal is to stay ahead of the competition by continuing to help simplify payments innovation for developers, merchants and financial institutions of all sizes.
Meet the Giants
Moin Moinuddin is the Head of Product for Integrated Payments at Vantiv, Inc, a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes.
Moin joined Vantiv in early 2016 and is responsible for leading the integrated payments product suite, which focuses on building and delivering world class products to retailers, ISV partners and merchants of all sizes. Prior to joining Vantiv, he was the Head of Global Payments at Dropbox and was responsible for defining a global commerce strategy for Dropbox as well as building the products to monetize Dropbox globally.
Coy Christensen is Vice President of Product Management at Vantiv and comes to Vantiv via the acquisition of Element Payment Services Inc., a recognized leader in PCI compliant payment processing solutions.
As VP of Product Management, Coy has used his international and domestic expertise in bringing to market innovative PCI scope-reducing technologies, such as triPOS, to the ISV and VAR channels served by Vantiv. The products and solutions that he has developed and managed during his time at Vantiv, all leverage an approach of removing the accessibility to cardholder data to eliminate merchant and partner risk.
“Vantiv’s Vantage Point is up-to-date on the trends and technological breakthroughs to help you stay ahead of the curve on credit card payment processing services and merchant solutions.”