New Hartford, NY -- PAR Springer-Miller Systems, Inc. (PSMS) --- a wholly owned subsidiary of PAR Technology Corporation (NYSE:PAR) and the leading provider of guest-centric hospitality management systems today announces the availability of Secure Payment Solutions (SPS), a secure payment processing solution for the hospitality industry.
By integrating with the best-in-class solutions from Shift4®, provider of the world's largest independent payment gateway, and Global Payments Inc., one of the largest worldwide providers of payment technology services, PAR Springer-Miller created Secure Payment Solutions. This payment processing framework, designed to remove cardholder data from the property management system (PMS) and point-of-sale system (POS), provides simplified payment processing while reducing liability and costs for hoteliers. Secure Payment Solutions provides:
The most secure payment processing technology, point-to-point encryption, to the hospitality industry
World class partnership with the most trusted names in payment processing, Shift4 and Global Payments
A framework designed to remove cardholder data from all PAR Springer-Miller PMS and POS solutions
Technology that may further reduce costs related to PCI Security Standard compliance
Shift4 and Global Payments represent two of the largest payment technology service providers in the world. They securely handle billions of transactions each year for leading hospitality, retail, ecommerce providers and other businesses. PAR Springer-Miller's Secure Payment Solutions employs Shift4's TrueTokenization® and point-to-point encryption (P2PE) to remove cardholder data at the point of entry. A guest's financial information is not exposed to the PMS and POS or systems. Cardholder data is encrypted, sent onward for authorization and returned as secure tokens. The integration with Global Payments enables hoteliers to accept credit and debit card payments effortlessly, offering a better customer experience and improving revenues.
"At PAR Springer-Miller, we are driven to deliver solutions to the hospitality industry that represent secure and contemporary means to process payments in the industry. The PAR Springer-Miller SPS product combined with security technology from Shift4 and integrated payment technology solutions from Global Payments brings a robust solution to the hospitality market," said Larry Hall, President and CEO of PAR Springer-Miller.
"Data security remains a very real threat to our industry, our customers, and their guests, and we have the expertise and know-how to deliver a highly secure system for processing payments that gives our customers and guests the confidence they seek," commented Hall.
"Achieving this level of innovation requires the full collaboration and cooperation of our partners in this endeavor – Shift4 and Global Payments – where we have common goals and a desire to create a highly secure environment. Efforts of this type and magnitude require a shared vision and desire to address a very real issue in the industry without hesitation. I'm delighted with the depth and breadth of the products and services PAR Springer-Miller, Shift4 and Global Payments created for our industry'" said Hall.
"We've spent the past two decades pioneering payment security technologies for the hospitality space," said Shift4 CEO Dave Oder. "We're thrilled to be partnering with PAR Springer-Miller to incorporate all of our current security technologies into their Secure Payment Solutions. Not only will they have our P2PE solution encrypting card data at the point of swipe, and TrueTokenization securing data at rest, but this solution will also deploy our patented 4Res® technology to tokenize data coming from the central reservation engine – truly preventing all cardholder data from entering the hotel's environment."
"We are delighted to be chosen as the payments services partner by PAR Springer-Miller. Our ability to provide a breadth of integrated payment technology products is ideally suited to meet the needs of lodging and hospitality businesses, especially when combined with the strength of PAR Springer- Miller's other technology offerings. We continue to expand our technology channel across different vertical markets and segments," commented Eddie Myers, President of the Global Payments Integrated Solutions division.
This unique partnership provides a secure payment processing solution for all PAR Springer-Miller applications that process payments including: ATRIO® PMS, ATRIO POS, SMS|Host,
SMS|Touch and SpaSoft.
About PAR Technology Corporation PAR Technology Corporation's stock is traded on the New York Stock Exchange under the symbol PAR. PAR's Hospitality segment has been a leading provider of restaurant and retail technology for more than 30 years. PAR offers technology solutions for the full spectrum of restaurant operations, from large chain and independent table service restaurants to international quick service chains. PAR's Hospitality business markets hotel management systems that provide a complete suite of powerful tools for guest management, recreation management, and timeshare/condo management. In addition, PAR provides the spa industry a leading management application that was specifically designed to support the unique needs of the resort spa and day spa markets, a rapidly growing hospitality segment. 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.
About Shift4 Corporation Shift4 Corporation makes it simple for merchants across all industries to securely process credit, debit, and gift card transactions. With connections to nearly every bank and processor in North America and integrations to hundreds of PMS/POS systems, Shift4's DOLLARS ON THE NET® is the world's largest independent payment gateway. Shift4 provides pre- and post-settlement auditing capabilities, fraud prevention tools, support for emerging technologies like EMV and mobile payments, and security solutions such as TrueTokenization® and P2PE, which drastically simplify PCI compliance – all for just pennies per transaction. Shift4 is a proud merchant advocate, maintaining complete bank and processor neutrality to ensure that their customers have the freedom to switch banks and processors as needed. For more information, visit www.shift4.com.
About Global Payments Global Payments Inc. is one of the largest worldwide providers of payment technology solutions for merchants, value added resellers, enterprise software providers, financial institutions, government agencies, multi-national corporations and independent sales organizations located throughout North America, South America, Europe and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of solutions and services for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.
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