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NewProducts

Company: BlockChyp Inc.
Product: BlockChyp
Website: www.blockchyp.com
Contact: sales@blockchyp.com

Secure, frictionless POS

designed by ISVs for ISVs

lockChyp Inc. created BlockChyp, an integrat- using a blockchain-based system. BlockChyp is also EMV-
ed, end-to-end solution designed to enhance the certified and supports Visa, Mastercard, American Express,
merchant countertop experience. Powered by Discover, JCB, UnionPay, Diners Club, ACH, PIN-based
B Equinox Luxe terminals, the platform combines debit, EBT and cryptocurrencies.
simplicity, transparency and ease-of-use inside a small
footprint, company representatives stated. BlockChyp pointed out that its platform processes
transactions at an average speed of 1.5 seconds. It
"The Equinox Luxe terminal has a nice form factor, fast offers white-label options controlled by merchants or
response times and full functionality, giving users the ISVs; electronic merchant application processing for
ability to run videos and manage a range of business- fast onboarding; customer insights, surveys, loyalty
critical functions," said BlockChyp CEO and co-founder information, and HIPAA acceptance with interactive
Jon Decker. BlockChyp CTO and co-founder Jeffrey Payne terminals; and seamless terminal firmware upgrades and
agreed, stating, "We built our technology from scratch, automatic software updates.
beginning with customized firmware, to help software
vendors grow their businesses." BlockChyp can also process offline transactions without
incurring merchant risk and easily access self-contained
Card-present paradigm shift store-and-forward support; quickly and efficiently set
As software developers with 30 years' combined experience, up and operate without the need to configure networks,
Decker and Payne were dissatisfied with typically high- ports or IPs; and protect transaction data with advanced
cost, low-quality card-present solutions and slow adoption security based on the latest blockchain and encryption
of blockchain and cryptocurrency. They resolved to help standards. BlockChyp transactions are protected by three
independent software vendors (ISVs) leverage blockchain encryption layers: DUKPT, AES-256, and TLS, and three
and advanced technologies to improve the merchant authorization layers: Bearer Tokens, HMAC Headers, and
experience. Digital Signatures, according to the company.
Leveraging blockchain
"We understood what this marketplace needed and knew
we could offer better technology," Decker said. "Most ISVs BlockChyp uses blockchain technology to improve security
want to control their pricing and user flow; BlockChyp gives and response times, Payne stated. The platform uses
them control and a seamless experience without requiring multiple security layers, real-time terminal telemetry and
them to become a payment facilitator." Payne noted threat monitoring to protect against man-in-the-middle
that BlockChyp pushes the boundaries of a typical POS and terminal hijacking attacks.
terminal. "Our terminals support custom branding, logos,
slide shows, and video loops along with marketing surveys, "We wanted to provide ISVs with the tools they need to
custom contracts, and signature capture, all without any effectively manage security and compliance," Payne said.
custom coding from the ISV," he stated. "Merchants can set "There are three checks in every sale and we have our own
these things up unguided in seconds." set of BlockChyp keys to sign the transaction when it gets
to our gateway."
Robust technology stack
The BlockChyp platform includes a payment gateway, Pat Ward, vice president of ISV sales at North American
merchant dashboard, ISV partner dashboard, Bancard, said BlockChyp's "quick, clean, and effective
administrative portal and virtual terminal. These power integration process creates a first-class certification
multiple functions offering numerous benefits such as the experience for any ISV looking to work with NAB."
ability to securely process gift and loyalty transactions
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