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Co-op’s new cloud wallet service

By Retail Technology | Monday February 27 2017

UK convenience store Co-op has announced a cloud-based wallet service for its new membership scheme

The scheme, which was launched last year, enables Co-op members to save and spend cash earned on own-brand purchases and also see their purchases support local charities of their choice. 

Electronic payments provider ACI Worldwide’s UP Merchant Payments solution will be the technology behind the new wallet service.

Andrew Quartermaine, vice president, ACI Worldwide said: "ACI’s UP Merchant Payments solution has the breadth and flexibility to support and integrate new services that go beyond traditional payments.”

Emerging 

In addition, ACI has started the production roll-out of its Point-2-Point Encryption (P2PE) card payments service across all Co-op UK food stores and fuel sites. P2PE is an emerging encryption technique that protects cardholder data by converting a consumer’s confidential credit and debit card data into indecipherable codes when the card is read by the payment terminal. It will help to considerably increase data security across all of Co-op’s UK food stores and fuel sites.



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