Mercury Payment Systems Adds "CVV" Security Feature to Gift Cards
Mercury Payment Systems has announced the addition of a layer of security to the gift cards it provides to merchants. A card validation code, known as the Card Validation Value (CVV), similar to what is used on bank cards to raise the level of fraud protection, is now also included on the gift cards Mercury provides.
The new security feature first appears as part of a total solution implemented this holiday season with Edible Arrangements, a franchise with an online store and almost 300 locations nationwide. The CVV code helps protect the merchant from fraud, particularly on "card not present" transactions for online store purchases.
"Previously, gift cards have not had a CVV code on the back," said Jenna Hutt, director of developer support for Mercury. "With gift card use on the rise, incorporating a CVV code extends additional security to the Edible Arrangements program."
"We're working with our point-of-sale developers to create software that supports this new feature," Hutt said. "Edible Arrangements is the first to benefit from this effort."
Mercury last month launched a campaign to build awareness among POS developers, resellers and merchants of the Payment Card Industry (PCI) Data Security Standard, a set of 12 card association guidelines for the proper handling of sensitive data.
The Edible Arrangements franchise already uses Mercury's credit card processing platform, which is integrated to the Netsolace, Inc. point-of-sale system developed by franchise owner, Tariq Farid, of Hamden, CT.
The new feature is part of the total payment solution Mercury provides to the franchise, which also includes free gift card processing, multi-location Automated Clearing House (ACH) reconciliation, free 24/7 technical support and a full suite of Web reporting tools.
"Adding secure gift card processing to the program gives Edible Arrangements a total, end-to-end processing solution that all of its stores can use," said Matt Taylor, vice president of sales at Mercury. "It's another wonderful opportunity for Edible Arrangements and Mercury to enhance the integrated services offering throughout the franchise organization."
Mercury designed three custom choices of gift cards, along with card holders and countertop displays to help the franchise promote gift card sales.
Specializing in fresh fruit and chocolate bouquets, Edible Arrangements launched its gift card program this holiday season at locations in 30 states and Canada. The franchise first started processing credit cards with Mercury almost two years ago.
The gift card market is projected to total $97.6 billion by 2008, according to a report by the Mercator Advisory Group published by ePaynews.com.
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