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Secure cashless payments: The rising need for point of sale and key injection solutions

6 reasons you should sell POS payment solutions and partner with Ingram Micro

June 01, 2021

Secure cashless payments: The rising need for point of sale and key injection solutions
Over the past year, amid rising concerns about COVID-19 being transmitted through contaminated surfaces, global retailers have gone cashless like never before. In fact, a recent Mastercard survey found that contactless transactions grew twice as fast as traditional checkout methods at grocery and drug stores between February and March 2020—with respondents citing safety and cleanliness as key drivers.
 
Equally important is point of sale (POS) payment security—using encryption keys to protect credit card information from landing in the wrong hands.  
 
So how can you capitalize on the growth momentum, while also ensuring airtight security for your customers’ future POS payment systems?
 
6 reasons you should sell POS payment solutions and partner with Ingram Micro
 
1. The market is booming.
According to Precedence Research, contactless payment volumes—valued at $1.05 trillion in 2019 and fueled by new consumer behavior—are projected to reach $4.6 trillion by 2027.
Not only is the market for POS payment systems growing exponentially, there’s great revenue potential in services, which can lead to higher margins. 
 
2. POS security has never been more important.
POS payment systems need to be secure, always on and compliant with the Payment Card Industry Data Security Standard (PCI DSS). A POS system that doesn’t protect cardholder data is vulnerable to advanced and persistent POS data breaches and threats—a costly lesson learned by global giants like Target, Home Depot and Wendy’s.
 
According to research by Norton, 60% of POS transactions are performed via credit card, which means big business for cybercriminals (individual credit cards can be sold for up to $100 apiece). The industries most affected by POS data breaches are usually restaurants, retail stores, grocery stores and hotels.
 
3. Encryption keys are an undisputed must-have.
Key injection technology using point-to-point encryption (P2P) is an essential part of protecting retail POS payments by ensuring credit and debit card transactions are secured. This technology offers the highest level of encryption security—encrypting all POS data upon entry and decrypting it only when it reaches the payment processor.
 
4. Ingram Micro has the largest encryption key library (and lowest prices) in the industry.
After the acquisition of The Phoenix Group, Ingram Micro now has a vast P2P encryption library—the largest in the industry. Our selection includes more than 800 encryption keys, which means you have more assurance that we can match your point of sale system software platform and payment device. Ingram Micro is not only a validated P2P key injection facility, we also have the best prices in the industry.
 
5. Ingram Micro provides a single source for your entire solution—from acquisition to in-house repairs.
As an authorized repair facility, Ingram Micro eliminates the need to ship your devices to the hardware manufacturer when they need repair. POS systems can be repaired at our facility—regardless of whether we did the original key injection or not. We also do in-warranty and out-of-warranty repairs for our main manufacturers.
 
6. Personalized support is part of the package.
Learning to sell POS systems may seem complicated, but it’s not when you’ve got the right support. Ingram Micro subject matter experts have nearly 10 years of experience with POS payments and are there to help you every step of the way. You don’t have to know it. We know it. 
 
To learn more about Ingram Micro’s key injection offerings, email impaymentsinformation@ingrammicro.com, or contact your Ingram Micro DC/POS team member today.

 

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