LONDON and DALLAS, Feb. 16, 2004 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA) (Prime Standard:TTP), a leading provider of transaction management and payment infrastructure solutions, today announced the launch of SmartPIN LINK, a wireless Chip and PIN solution for restaurants and the hospitality sector.
Card fraud currently costs the UK over 400 million a year. Restaurants and hotels are considered a soft target for fraudsters where "skimming" can take place when the card is taken out of the customer's sight. To combat fraud, the industry is introducing chip-based payment cards validated by PIN rather than signature. SmartPIN LINK is a complete payment solution that makes it easy for hospitality point-of-sale (POS) systems to accept Chip and PIN credit and debit cards at the table.
SmartPIN LINK is based on the latest wireless networking technology and fully integrates into both point-of-sale systems and online EFT card processing systems. It provides a seamless payment solution that is fast, secure and convenient for both customers and staff.
SmartPIN LINK integrates the wireless payment terminal with the POS. Staff can simply initiate a card payment at the POS, pick up an available payment terminal and take it to the table to accept payment. This enables customers to enter their PIN at the table and ensures that the customer retains sight of the card at all times.
After capturing the card payment details, SmartPIN LINK automatically routes the transaction to the bank through a dedicated card payment authorisation server ensuring fast transaction times for both customer and staff. SmartPIN LINK can also support receipt/bill printing at the table, process gratuities and provide a cash back facility as part of a single Chip and PIN tendering process.
"While many retailers are already implementing Chip and PIN, the hospitality industry has been slow to invest in the migration because of the complexity of a 'pay at table' solution," says Eamon Keating, General Manager of Trintech's Retail Division. "SmartPIN LINK will allow hospitality organizations to accept Chip and PIN and to protect themselves against fraud"
About Trintech
Trintech is a leading provider of transaction management and payment infrastructure solutions to financial institutions, payment processors, enterprise retailers and network operators globally. Built on over 15 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation -- enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the UK at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com.
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