30 Aug 23

The Game-Changing Benefits of Cloud-Based Payment Device Management

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Managing payment devices has traditionally taken time—and money—which acquirers, their partners, and merchants have chalked up to the cost of doing business. However, cloud-based payment device management can decrease the time and expense of managing payment terminals.

A solution based on the Software as a Service (SaaS) model allows acquirers and solution providers businesses to pay a predictable monthly fee, eliminating any surprise charges for merchant maintenance and repairs.

A cloud-based model continually communicates with the payment terminal so providers can monitor and, in some cases, remotely address issues to keep devices operational without the expense of on site technicians. These cost savings can be significant, especially for Canada with its vast geographic diversity. Forrester research, commissioned by Ingenico, found partners can reduce terminal management costs by 30 percent.

Not all device management solutions provide the same capabilities and value. When choosing a payment technology partner, evaluate the payment device management solution in these six game-changing ways.

1. Remote key injection

Key injection, necessary for the terminal to have unique encryption keys for payment data security, has historically been a manual process. Terminals went from manufacturing to a certified key injection facility. Once the terminal was loaded with keys, it required careful tracking to ensure secure storage and transportation and delivery to the correct location.

Remote key injection allows payment technology companies to ship terminals to the merchant and then use a payment device management service for remote key injection. It eliminates the need to send the device to a dedicated key injection facility, saving time and money.

2. Device location

The Payment Card Industry Security Standards Council (PCI SSC) mandates tracking payment device locations throughout their lifecycles. Devices managed with a cloud-based solution can automatically detect their locations and provide that information to the acquirer or solution provider.

3. Remote diagnostics

With a cloud-based payment device management solution, repairs and maintenance don’t have to be reactive. Acquirers or solutions providers can routinely and programmatically inspect devices to check their health and performance. If the management system identifies an issue, the provider can send a replacement proactively or correct the issue remotely to avoid downtime.

4. Screen sharing

Talking a merchant’s employee through resetting or troubleshooting can be difficult and nonproductive. Screen sharing allows a technician to take control of the device, with the merchant’s permission, to quickly resolve issues. Leading solutions will mask sensitive data, so it isn’t readable by techs working on the device.

5. Adding new capabilities

With remote management capabilities, acquirers can push new capabilities to devices—across whole estates to save time—or give individual merchants the ability to choose applications and services from the providers curated App Store, accessing it directly from the terminal.

6. Opening service requests

A user-friendly payment device management solution allows merchants to request service right from the device rather than requiring them to call and wait on hold or log in to a portal on a back-office computer. The terminal displays a list of issues, and when the merchant finds the category of the problem they’ve encountered, the device opens a ticket.

Payment Devices Are Only Part of the Solution

Payment devices are essential tools for merchants who want to maximize revenues and meet consumer demands for payment choices. However, a total payment solution must include a way to manage devices to keep them up-to-date, secure, and functional.

As the industry demands greater product cost certainty, payment device management is a key part of a holistic Payment Platform as a Service (PPaaS) model.

 

Ready to learn more about payment device management services that increase visibility, compliance, and efficiency of your operation? Contact Ingenico

Author

Richard Giannini

VP Solutions Management and Support, Canada

Ingenico Canada Ltd.

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