LONDON and DUBLIN, Ireland, July 6, 2004 (PRIMEZONE) -- PayWare Merchant and Smart 5000 Chosen to Manage Smart Card Transactions by UK's Fastest Growing Electronic Retail Specialist
Trintech Group Plc (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions today announced that Maplin Electronics has implemented Trintech's bank-accredited PayWare Merchant card processing solution and Smart 5000 card readers to process all its card payment transactions, including EMV Chip and PIN.
Maplin Electronics, the UK's fastest growing mid-sized multi-channel retailer, with over eighty stores throughout the UK and Ireland, selected Trintech's complete EFT Chip and PIN solution because of Trintech's recognized leadership within the electronic payment market and the inherent flexibility of PayWare Merchant. This flexibility will facilitate Maplin Electronics' aggressive store expansion program in the coming months, including the ongoing development of an out-of-town store model.
"We are extremely pleased to be working with Trintech," commented Nigel Fawcett, IT Director at Maplin Electronics. "It was critical that our selected partners completely understood our business needs and requirements in order to provide us with an electronic payment solution that will grow with our ambitious store expansion programme. Trintech have provided us with an infrastructure that will enable us to keep up with the future demands of our business."
PayWare Merchant, a leading EFT card processing solution, will enable Maplin Electronics to provide rapid online payment authorizations from any sales or order processing system. This translates to less time queuing for customers in retail outlets, easier reconciliation of transactions, central and local reporting, as well as added support for multiple business channels. PayWare Merchant also integrates seamlessly with existing electronic point-of-sale (EPoS), call center systems, Internet web sites and other business systems.
Maplin Electronics was concerned that the use of magnetic swipe cards alongside new chip cards may lead to confusion and disruption at the point-of-sale. Trintech's Smart 5000 solves this problem by ensuring that its single slot card reader reads both types of card to avoid confusion for customers and staff.
"We are delighted to be working with Maplin Electronics on such an aggressive retail expansion project," said Eamon Keating, General Manager at Trintech's Retail Division. "PayWare Merchant has been configured to integrate with their overall transactional requirements in the coming months and will provide Maplin Electronics with rapid online authorizations to deliver fast and secure payment transactions."
About PayWare Merchant
PayWare Merchant is Trintech's latest generation payment server that enables merchants to accept card payments and perform rapid online payment authorization from any sales or order processing system. PayWare Merchant integrates seamlessly with electronic point-of-sale (EPoS), call center systems, Internet web sites and other business systems. This integrated solution is easy-to-use, avoids keying errors, reduces fraud and leads to lower transaction charges. PayWare Merchant can provide payment processing for both single and multi-site, multi-merchant operations. Easy front and back office integration allows PayWare systems to operate seamlessly, providing a complete audit trail with sophisticated monitoring and reporting facilities.
About PayWare Smart 5000
Building on over a decade's experience of delivering high security terminals, Trintech's new PayWare Smart 5000 is an EMV certified terminal that can be used in any type of POS system. It is an ideal device for EMV upgrade of integrated multilane Electronic Point of Sale systems. Smart 5000 is based on Trintech's innovative OpenPay architecture consisting of a fast and powerful ARM processor and open source operating system (Linux). This means that Smart 5000 has one of the highest chip transaction processing speeds in the industry and is an ideal terminal for applications such as loyalty.
About Maplin Electronics
Maplin Electronics is the UK's leading specialist electronics retailer. Since launching in 1972 as a mail order electronic components retailer, the company has enjoyed substantial growth and today has a turnover close to 100 million Pounds (2003 figures), a diverse and expanding range of over 14,000 products, a network of 86 retail stores and some 1,400 staff. Profits have grown an incredible 105% a year, from 1.4 million Pounds in 1999 to 12.1 million Pounds in 2002. With a network of over 80 branches across the UK and Ireland, the company plans to open 15 new stores this year. www.maplin.co.uk
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.