Amid rapid changes in payments environment, Genius platform future-proofs retailers for EMV and mobile payments
New York, NY and Boston, MA – January 18, 2016 – From the shift to chip cards (EMV) to the launch of new mobile wallets like Android and Samsung Pay and mounting security concerns, 2015 saw the payments environment undergo major transformations. With 2016 poised to continue this rapid evolution, Cayan, The Payment Possibilities CompanyTM, today announced significant continued growth as both large and small retailers integrate Cayan’s Genius® Platform to future-proof their payment technology. Genius has experienced 35 percent growth in new active lanes quarter over quarter, with retailers including Party City, Do It Best, and LA Tan joining PUMA, Harley Davidson, City Gear, Stuart Weitzman, Sam Moon and Cycle Gear on the list of Cayan Genius customers.
Along with momentum in retail, Cayan has seen continued growth in sports venues and franchise spaces. New partnerships include Philadelphia Eagles retail and Levy Retail Group’s Chase Field, which join Aramark, a leading provider of foodservices, facility management and merchandise for professional baseball, football, basketball and hockey teams, in deploying Genius across dozens of U.S. major league stadiums and arenas including Citizens Bank Park, BB&T Center, Consol Energy Center and Kaufmann Stadium.
Empowering retailers for EMV and mobile payments
Customer growth comes as retailers seek future-proof solutions to address the challenges associated with integrating and accepting an increasingly complex array of new payment types. In 2015, as EMV migration presented a major retailer challenge, Cayan was prepared with expanded in-house resources; increasing the dedicated product and technology teams in Boston and Belfast, Northern Ireland to over 200 employees focused on EMV, technical operations and product development. In 2016 Cayan plans to invest further in this team to support customers through the challenges that EMV compliance and other payment challenges will continue to pose.
“Just because Apple Pay and EMV are here doesn’t mean the sprint is over. In fact, most retailers have only just crossed the starting line of the mobile payments and EMV marathon and there is a long way to go,” said Cayan co-founder and CEO Henry Helgeson. “2016 will be as challenging, if not more, as more mobile payment form factors enter. At the same time, there’s never been more opportunity for retailers to transform their transactions and customer experience for the better.”
In 2015, Cayan led the way in EMV processor certification as one of the few U.S. companies to earn Level 2 EMV certification listing on EMVCo. In addition, Cayan has achieved Level 3 EMV certifications with two leading processors, including First Data’s Rapid Connect platform. With five additional EMV certifications actively in process over three major processors on a variety of form factors (mobile and counter-top), Cayan stands alone in its ability to support retailers with their ongoing EMV implementation. The unique Genius API and EMV kernel development provides opportunities for multi-national expansion, which Cayan will be announcing later this year.
“Genius future-proofs the retailer unlike any other vendor in the industry,” said Cayan Chief Revenue Officer Ken Paull. “Along with EMV, Genius can be or already is being integrated with virtually every POS system, and accepts all major tender types and payment technology across channels through connections with virtually any acquirer. It’s omni-payment at scale.”
Cayan™ is the leading provider of payment technologies that give businesses a competitive advantage. From simple and reliable payment processing, to fully integrated, multi-channel customer engagement platforms, Cayan is continuously developing new ways for businesses to unlock the power of payments. Headquartered in Boston, the company has multiple offices in the United States and Belfast, Northern Ireland. Cayan is one of the world's fastest growing payment companies. For more information, visit www.cayan.com.