22 May 23

6 Top Payment Device Management Features

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It’s fundamental for merchants accepting card-present payments to have a payment device – but more precisely, a payment device that works. Like all IT hardware, payment terminals occasionally need maintenance, updates, or other service. A payment device management solution makes it possible to keep terminals functioning in optimal condition and to troubleshoot them for quick issue resolution when needed.

Essential Payment Device Management Features

Payment technology companies have offered payment device management for some time in one form or another. However, today’s cloud-based solutions include features that make payment device management easier and more efficient for merchants and solution providers. Top cloud solution features include:

  1. Remote key injection: With remote capabilities, payment technology companies can ship a terminal to a merchant and use payment device management service to bring the device up to date with keys and integrations. Remote key injection makes the process easier for the solution provider that, in the past, would have to carefully track devices and ensure shipment to the correct location. Now, they can ship the device and have the assurance that it’s correctly configured in the field.
  2. Asset tracking: Point-to-point encryption (P2PE) validated by the Payment Card Industry Security Standards Council (PCI SSC) requires accurate tracking of a payment device’s location from the receipt of the device throughout its lifecycle. A cloud-based service simplifies this process by automatically locating the device and providing data to the device provider and merchant.
  3. Terminal diagnostics: A cloud-based payment device management service enables solution providers to schedule routine inspections to monitor the device’s health proactively. The service can share the results of those inspections with the merchant and the provider in real time.
  4. Screen sharing: A cloud-based service allows a technician, with the merchant’s permission, to take control of the device for troubleshooting or training while masking payment data for security. This feature enables solution providers to help merchants anywhere in the world, without sending a technician onsite.
  5. Uploading new capabilities: If a merchant chooses new features from a provider’s offerings, for example, a solution from Ingenico’s App Showcase, a cloud-based payment device management service enables them to upload them remotely to expand the device’s capabilities.
  6. Requesting service: The service can also allow merchants to request service directly from the terminal rather than going to a portal and opening a ticket. The terminal displays a menu of issue types, and, when the merchant selects a category, the terminal automatically opens a ticket.

Benefits of Payment Device Management

A cloud-based payment device management service provides greater efficiency for solution providers and ease of use for merchants. However, there are additional advantages. The first is financial. A service based on the Software as a Service (SaaS) model is billed monthly rather than requiring an unexpected expenditure when a terminal needs maintenance or repair. Additionally, because the service enables device health monitoring, many issues can be detected and fixed or replaced to avoid downtime.

Finally, because the service monitors payment devices, solution providers can focus more on their core businesses and less on terminal management. In fact, Forrester research commissioned by Ingenico found that partners can reduce terminal management costs by 30 percent.

Part of a Total Payment Solution

Payment device management has often been a standalone solution, giving solutions providers a way to manage third-party devices. However, now that the trend is toward subscription services, payment device management will be a key part of solutions such as Payment Platform as a Service (PPaaS) or e-Sign. Payment device management capabilities enable solutions providers to keep devices in peak condition, proactively address issues, and meet the terms of their service level agreements with their clients.

Are you ready to learn more about a payment device management service that increases visibility into device health, enables remote management, and increases efficiency? Contact Ingenico.

Author

Nitin Surve

Head of Cloud Solutions, NAR

Nitin has extensive experience in Product Development, Technology Strategy and Data Warehousing with domain expertise in Digital Payments, Electronic Invoice Presentment/Payment and Commercial Insurance

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