Trintech Partners with Quest Retail Technology to Supply Complete Chip and PIN Solutions to UK Retailers

Leading Developer and Supplier of Point-of-Sale Technology Partners with Trintech to Enable the Migration to Chip and PIN in the UK


DUBLIN, Ireland and LONDON, June 21, 2004 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA) (Prime Standard:TTP), a leading provider of transaction management and payment infrastructure solutions, today announced that it has partnered with Quest Retail Technology, a leading developer and supplier of PoS (point-of-sale) technology, to provide a complete EFT and Chip and PIN solution to UK merchants.

The UK has mandated a shift to EMV Chip and PIN by the beginning of 2005. Trintech and Quest have individually supplied complementary products and support to merchants in multiple retail segments. As part of the agreement, Quest will now integrate Trintech's PayWare EFT and PayWare SmartPIN Chip and PIN solution with its own range of PoS terminals, including the award-winning V-Touch, touch screen terminal.

"Our strategy is to build strong indirect channels to market, and our decision to select Quest as a key distribution partner is based on their worldwide reputation within the retail and hospitality sectors," says Eamon Keating, General Manager of Trintech's Retail Division. "Our goal is to work closely with Quest to provide a cost-effective, robust, secure, and flexible set of EFT and Chip and PIN solutions. Quest's terminals are more robust and easy to use than other PC-based solutions, and are suited to challenging retail markets such as the hospitality and restaurant sector."

"Trintech is a leading provider of secure and cost-effective Chip and PIN solutions globally," commented Tom Bell at Quest Retail Technology. "Trintech's PayWare SmartPIN provides merchants with a comprehensive suite of secure Chip and PIN components that is robust and easy to integrate into an existing POS architecture. We were also attracted by the fact that Trintech was the first vendor to achieve UK accreditation for their integrated Chip and PIN solutions. Our partnership means that we are now able to offer our customers the best Chip and PIN solutions in the marketplace."

About PayWare SmartPIN

PayWare SmartPIN is aimed at merchants and retailers that have immediate requirements for a secure and standards-compliant Chip and PIN solution that can integrate seamlessly with new or existing electronic point-of-sale (EPoS) infrastructure. The bank accredited solution includes Trintech's proven PIN Pad hardware and EMV application to enable chip card acceptance with PIN authentication in any EPoS system. PayWare SmartPIN is designed to tackle the growing fraud problem in markets such as the UK. Recent statistics suggest that card fraud costs the industry 400 million annually. With counterfeit and lost and stolen cards, accounting for approximately half of all fraud, magnetic stripe technology with signature authentication has been identified as a primary weakness of the current system. PayWare SmartPIN allows merchants and acquirers to benefit from increased security, since chip cards are extremely difficult to counterfeit and PIN verification is inherently more secure than a signature. For more information on Trintech's SmartPIN solution visit our dedicated website: www.pinpad.co.uk.

About Quest Retail Technology

Quest has over 20 years experience in providing advanced EPOS solutions to markets right across the world. Quest was established, in Melbourne, Australia, in 1980 and quickly expanded into New Zealand. Since then, Quest has continued to grow internationally and now has operations in North and South America, Europe and Asia. The main European Office is situated in the UK. Over the last 20 years, Quest has developed, manufactured and installed Quest point-of-sale systems in a whole variety of retail environments, ranging from a one till portable coffee stand, to a 500 till installation at the Mile High Stadium in Denver, Colorado, USA and multi-site systems spanning thousands of stores in countries across the world.

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 17 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. www.pinpad.co.uk.



            

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