Canadian Payment Services Provider Teams with Triton to Lead in White Label ATM Market
Open Solutions Inc. ®, a leading payment services provider to the Canadian financial and retail industries, today announced it is the first payments processor to offer remote encryption key download capability for ATMs in the Canadian “white label” off-premise ATM market. For now, this capability is available only on Triton ATMs, using Triton’s Key Management (TKM). Triton is a leader in off-premise cash machine deployment in retail business locations and is the first ATM manufacturer to bring remote key management to the off-premise ATM market.
With remote key download capability, encryption keys are installed remotely from the Open Solutions POSHnet network when a new Triton ATM is activated. New keys are also installed automatically if the cash machine is moved from one location to another or if ATM keys have been “dropped” – for example, after a machine malfunction. Such key injections are otherwise a manual process involving two people who have to travel to the ATM site and each load a portion of the key into the ATM. The remote download function, which operates over a secure IP network, therefore releases ATM owners from the financial burden and additional responsibilities of key management. This translates into time and cost savings, increased security and better reliability for ATM owners.
“The ability to download keys remotely is of tremendous benefit to owners of off-premise ATMs,” said Rob Palin, general manager of Open Solutions’ Payment Solutions Group. “They’ll see significant savings in travel expenses and personnel costs, improved responsiveness and faster recovery.” Palin elaborated: “With remote key download capability, there’s no need to send a technician to an ATM site and incur the associated travel time expenses. This will result in significant savings, especially when managing ATMs in hard-to-reach locations. And if an ATM drops its keys, they can be re-installed almost immediately, bringing that machine back into service much more quickly, so merchants don’t miss out on valuable surcharge income.”
“Performing just one key change remotely per year could save an ATM owner between $800 and $1,600 per ATM over the life of the ATM,” said Triton Vice President of International Sales, Shaun King. Triton’s calculations factor in a cost of $100 per technician, for each visit, over the eight-year service life of an ATM. “Owners of large fleets of ATMs or those that operate in markets that require master keys to be changed frequently can realize significant cost savings,” notes King.
Remote key download also eliminates the possibility of fraudulent activity as a result of collusion between key custodians and laxness in adhering to the two-custodian requirements. The function is highly secure and meets stringent Interac® and PCI regulatory requirements. Yet, Open Solutions’ implementation of remote key download capability was strictly voluntary, not driven by regulatory requirement.
“Our primary objective was to add value to our product offering and provide our Canadian clients with a new tool to help them improve their profit margins by cutting costs and improving service. If remote key download becomes a regulatory requirement in the future, many of our clients will be ahead of the curve,” said Palin.