News

Nexus, Ingenico enter alliance for fraud prevention

August 2, 2006

RALEIGH, N.C. - Nexus Software Inc., provider of integration middleware and services for retail financial systems, and Ingenico UK, provider of secure payment-transaction solutions, have entered an alliance to enhance fraud-prevention services for their respective clients.

According to the deal, Ingenico can now offer its clients an XFS-compliant interface for its hardware, which includes PIN pads. In turn, Nexus will offer its customers support for Ingenico hardware that can be integrated into the banking-payment environment.

"As fraud numbers continue to increase and identity thieves adapt to changing technology barriers, it is vital that financial institutions be able to easily integrate secure payment and transaction solutions, regardless of core-processing-vendor or bank-management architecture," said Skip Williams, Nexus' general manager. "Our mutually beneficial alliance not only extends XFS capabilities and open standards to Ingenico customers, (it) adds the choice of Ingenico products for all current and future Nexus INvolve customers."

Ingenico PIN pads are used to enable EMV chip and magnetic-stripe transactions. By adding XFS capabilities through the Nexus INvolve product family, Ingenico's customers can utilize the functionality available in Ingenico's devices through open standards that are widely accepted in the market.

"More and more banks are leveraging their investment in EMV cards and the PIN functionality they offer to enable secure identification of customers in the branch environment," said Nick Parsons, Ingenico's managing director for Northern Europe. "ID theft is a significant security threat, and our partnership with Nexus Software closes another door to criminals and at the same time improves the overall bank-customer experience."