Company: CardWare International Inc.
A rash of regulatory and security mandates has rendered many POS systems obsolete and will likely continue to do so. To solve this problem, CardWare International Inc., a payments industry service provider established in 1976, created Infinity, a program designed to keep POS systems future ready and compliant in the ever-changing payments ecosystem. The subscription service comes with a lifetime no-obsolescence guarantee. "We've watched not fully compliant products rushed to market to then be pushed on unwary merchants," said Biff Matthews, Chief Executive Officer of Thirteen Inc., CardWare's parent company. "Think hardware with EMV slots but no reader or insufficient memory to support an EMV application. As a merchant, the constant technology chase is frustrating while adding considerable unnecessary cost."
Infinity offers participating ISOs, acquirers and financial institutions a range of configuration and billing options. Resellers can bill customers directly or through CardWare. They can also set their own prices, register large populations of devices and software, and bundle the program with other services.
To enroll in the program, processing systems must meet the following requirements:
CardWare noted that Infinity provides monthly hardware revenue to ISO and acquirer resellers and added that the program offers the following benefits for enrolled merchant customers:
CardWare emphasized that the Infinity program is flexible, enabling ISOs and their merchant customers to make changes whenever necessary to their database of registered, supported devices. Revised subscriptions are calculated according a client's new product mix.Occasionally, merchants will want to make other, non-industry mandated changes to their product mix. Ancillary services such as signature capture, PIN debit and mobile devices can be added to existing contracts, and monthly subscription pricing will be adjusted accordingly.
The Infinity program provides sellers, ISOs and financial institutions with continuous recurring revenue streams with greater income potential than one-time hardware sales, CardWare stated. The program may also boost retention rates and customer longevity. CardWare's low buy rates give partners the freedom to set their own revenue models and merchant level monthly subscription fees.
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