In a press release Thursday (Oct. 6), Pye said it will connect its equipment with Chase’s end-to-end secure payment system, helping to move electronic payment methods along. That will include contactless payment options via Android and Apple Pay.
The team-up is happening while the transactional industry has seen a glut of intercepted payments and various hacks. The pandemic exacerbated the issue as it forced people to go digital to complete everyday tasks and payments, the release noted.
Jegil Dugger, Pye founder and CEO, said the solution is a way to help fight back against bad actors.
“The minimum expectation of consumers is that payments are processed securely,” he said. “This partnership ensures that those transactions are protected from unscrupulous tactics and wrongdoers.”
Dugger added that kiosks are the “transactional tools now and of the future” and said that Chase had recognized this already.
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Pye’s self-service solutions include standalone and tabletop and handheld options, with “easy to use” software allowing employees and customers to quickly make transactions. Per the release, they’re used in various restaurants and hospitality situations, among other things.
This isn’t the only innovation Chase has explored recently. The banking giant acquired payments startup Renovite for an undisclosed amount in September, intending to use the company’s tech to underpin the expansion of its merchant acquiring space, add more to its journey to the cloud and allow for faster processing.
Learn more: JPMorgan Payments Acquires Renovite for Cloud Payments
Renovite’s work focuses on cloud-native tech, with products aimed to help clients augment and improve infrastructure such as switch, reconciliation, security, issuing, ATM and testing. It will become part of J.P. Morgan Payments, which deals with treasury services, trade finance, card and merchant services capabilities.
Renovite will allow J.P. Morgan Payments to build on its payments modernization strategy. The acquisition, according to Max Neukirchen, global head of payments and commerce solutions at J.P. Morgan, will help the company “stay at the cutting edge” of payments tech.
