Argus now using Powertranz for card payment

  • Security move: Argus Group has signed on with Powertranz to use its debit and credit card payment platform (File photograph)

    Security move: Argus Group has signed on with Powertranz to use its debit and credit card payment platform (File photograph)

Argus Group has started using the debit and credit card payment system operated by Bermudian-based Powertranz.

It is the latest business to go live with the system, which launched in July.

It means Argus staff no longer have to physically handle clients’ cards during the payment process, as customers are able to input or swipe their card in the payment device themselves.

As a result, it reduces card data risk and Argus’s PCI compliance risk.

The insurance and financial services company accepts credit and debit card payments online and offline. The Powertranz “card present” platform allows point-of-sale transactions with EMV and card-swipe functionality, where the client can complete the process themselves.

Sash Selvaratnam, Argus’s technology solutions manager said the company had secure management of credit card data before it started working with Powertranz, but its staff were still physically handling credit cards on behalf of customers during payment processing.

“We needed to further mitigate our card data risk — by allowing the customer to handle the credit card during the payment process through a secure and integrated solution,” said Mr Selvaratnam.

“Powertranz has allowed us to transfer control of payment processing to our customers. We no longer even touch our customer’s credit card. This, of course, is of great value to our customers as their payment information remains more secure through the payment process.”

Powertranz said the PCI validated P2PE encrypts card data at the point of contact with the payment terminal, removing all clear text credit card data from the merchants’ systems.

Ronnie Viera, chief operating officer of First Atlantic Commerce, the sister company of Powertranz, said: “We are pleased to have Argus sign on with Powertranz. PCI validated P2PE protection on every transaction provides the utmost security to both merchants and consumers by substantially decreasing the risk of exposing payment data.”

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Published Jan 31, 2020 at 8:00 am (Updated Jan 31, 2020 at 8:15 am)

Argus now using Powertranz for card payment

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