Trusted transactions company, Prism Holdings, and First National Bank (FNB), one of South Africa`s big four banks, have formed an alliance to deliver a new and innovative EMV*-enabled electronic payment system to select FNB merchants.
The partners have reached an agreement which will see FNB licensing and marketing Prism`s EMV ready FlexiLANE solution to its large retailer customer base - specific emphasis being placed on multi-lane food retailers, petroleum retailers, restaurateurs and hotels. The solution provides state-of-the-art point of payment aggregation for those merchants who require multiple terminals and/or PIN pads.
According to Llewellyn Walters, Prism Executive Director, FlexiLANE utilises embedded payment technology and brings together WiFi** (802.11b/g) and GSM*** (GPRS) technology in a rapidly deployable bundle capable of supporting portable handheld terminals.
"This means that the VeriFone payment terminal can be brought to the customer so that the card can be read and the PIN entered - payment cards no longer have to leave the individual`s possession in order for payment to take place.
"This portability equates to improved convenience and security, particularly where debit card payments are concerned since the consumer no longer needs to leave their seat at a restaurant or get out of their car at a filling station for PIN entry," explains Walters.
He adds that the GPRS capability facilitates a "no wires" rapid installation and ensures that the transaction data service is "always on". A recent pilot project by Prism and FNB demonstrated that a typical installation of several portable WiFi terminals via a FlexiLANE hub and connecting to the bank via GPRS can be configured and transacting within three hours.
According to Walters, FlexiLANE`s generic forecourt functionality caters for both international and South African forecourt requirements and has been selected by FNB for initial deployment at Shell South Africa as part of a nationwide project to upgrade Shell`s forecourt payment infrastructure.
Walters believes that FlexiLANE allows multilane merchants to significantly differentiate their service offering by bringing point-of-payment to the consumer. Within the FMCG environment, it provides proven integration into point-of-sale systems through the use of the VeriFone SC5000 PINpad, a market leader in its own right.
Commenting on the partnership, FNB`s Brian Small, Head - SpeedPoint Merchant Acquiring Business Solutions and New Technology, says: "A key differentiator, beyond the convenience and quick deployment of FlexiLANE, is that it allows clients to source configurable and customisable `one-stop` integrated multi-lane acquiring solutions directly from FNB.
"In the petroleum industry, for example, FlexiLANE provides support for pump-controller integration and attendant-tracking information in conjunction with the electronic payment being made on the portable terminal."
"FNB`s choice of FlexiLANE as a payment delivery platform for Shell is a significant milestone in Prism`s roadmap," Walters concludes.
FlexiLANE innovation as a payment aggregator is not limited to the seamless use of WiFi and GPRS technology, it extends to the use of all open source technology, based on LAMP (Linux, Apache, MySQL and PHP), which is a globally-proven combination that delivers reliability and cost effectiveness.
* EMV: The global standard for the design, security and functionality of smart card terminals and applications, was developed by the major card associations in an effort to reduce fraud. Visa and MasterCard have mandated that all new generation payment cards issued by their member banks must be EMV compliant. This means EMV compliant POS terminals have to be installed at outlets around the globe so that they can safely accept any EMV-type smart card from any EMV card issuer.
** GSM is short for Global System for Mobile Communications. One of the leading digital cellular systems, it was first introduced in 1991 and by the end of 1997, GSM service was available in more than 100 countries and has become the de facto standard in Europe, Africa and Asia.
*** WiFi: Short for wireless fidelity, is meant to be used generically when referring of any type of 802.11 network, whether 802.11b, 802.11a, dual-band, etc. The term is promulgated by the WiFi Alliance. Any products tested and approved as "WiFi Certified" (a registered trademark) by the WiFi Alliance are certified as interoperable with each other, even if they are from different manufacturers. A user with a "WiFi Certified" product can use any brand of access point with any other brand of client hardware that also is certified. Typically, however, any WiFi product using the same radio frequency (for example, 2.4GHz for 802.11b or 11g, 5GHz for 802.11a) will work with any other, even if not "WiFi Certified".
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