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Global Payment Partners Ingenico Group to Serve Businesses

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Global Payments Inc.’s (GPN - Free Report) unit Heartland, dealing in U.S. payments and payroll business, recently collaborated with Ingenico Group to launch an advanced terminal to enrich customer payment experience. The deal would combine Heartland’s technology and software with Ingenico Group’s Desk/3500 terminal, the first of its newly certified Telium Tetra solutions in the United States, which is designed to meet the needs of small to medium Business (SMB) customers.

The alliance results in a seamless, smooth payment experience for consumers, which exceeds the industry standard of transaction devices from the Payment Card Industry Security Standards Council. The device with its compact design and intuitive applications menu is not only user-friendly but consumes less space as well.

Heartland has developed various software solutions over the years in the smart terminal including Application Program Interfaces (API) and end-to-end encryption support to ensure high protection and security of customer transaction data. Heartland backs the card data encryption technology on the Desk/3500 with the aid of Heartland SecureTM Breach Warranty.

With this deal, Global Payments expects to improve client experience at the point of sale and believes that Heartland has the best solutions on offer to provide an impressive customer experience in SMBs.

The financial transaction service industry is going through a rapid transition, assisted by newer technologies, changing customer demand and innovative ideas. And the players are on a spree to provide flexible and easier payments solutions to users via various kinds of joint ventures.  For instance, Discover Financial Services (DFS - Free Report) recently tied up with Promoción y Operación S.A. de C.V. (Prosa) to form a strategic network alliance, allowing customers to use cards of their choice in Mexico. Moreover, Euronet Worldwide, Inc.’s (EEFT - Free Report) subsidiary Ria Money Transfer has teamed up with Boost Mobile to enable customers avail of bill payment services at more than 6,000 locations globally. The deal would further help the Boost Mobile dealers provide domestic as well as international money transfer services.

Other companies like MoneyGram International Inc. has also partnered with OXXO convenience stores to help Mexican customers receive funds from across the world. These deals would likely provide convenient and better options to respective users.

Shares of Global Payments have surged 31% in a year’s time, underperforming the industry’s growth of 35.7%. The stock has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 

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