Chockstone Inc. and VeriFone Partner to Deliver Enhanced Terminal POS Offering For Multi-Unit QSR Industry.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--April 21, 2004 Chockstone, Inc., a leading stored value, payment and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. company for multi-unit high frequency retailers, today announced that in partnership with VeriFone it has released Chockstone's ChockBox(R) application suite on the VeriFone Omni 3700 series terminals. The partnership will combine Chockstone's stored value application with VeriFone terminals to support credit/debit, electronic gift, loyalty and promotional marketing transactions at the point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) for the quick service restaurant (QSR QSR Quick Service Restaurant QSR QoS (Quality of Service) Satisfaction Rate QSR Quality System Regulations QSR Quality Status Report QSR Quality System Review QSR Quarterly Status Report QSR Quality System Requirement ) industry. "VeriFone's latest generation POS terminals have strengthened Chockstone's ability to provide the leading set of stored value services to the QSR industry," said Jeff Lipp, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Chockstone. "Through Ethernet and IP-based terminals we will enable multiple programs on one card that allow merchants to increase their sales while enhancing customer loyalty." Supporting Chockstone's stored value program on the VeriFone payment terminals helps high-frequency, multi-unit QSRs to improve customer service, track customer visits and promote and reward in real-time without the expense of purchasing a dedicated system. The combined offering of payment, gift card, loyalty and promotional marketing programs provides merchants with a competitive differentiator and helps them attract and retain customers. "The Omni 3700 Series IP-enabled terminals have received strong market interest and demand and we believe Chockstone's technology will further strengthen the benefits we provide to QSRs and retailers," said Jesse Adams, executive vice president, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. sales at VeriFone. "We are pleased to have the opportunity to partner with Chockstone in order to continue to develop industry innovations." Chockstone currently processes millions of QSR stored value cards via Chockstone's integrated platform, ChockPoint(R). ChockPoint(R) enables retailers to combine payment, loyalty and promotional programs through a single consumer card. With one retail-branded card, consumers draw down gift card dollars, earn loyalty points, and redeem these points in real time. Additionally, QSRs instantaneously deliver promotions based on historical transaction behavior at the POS. VeriFone's Omni 3700 is tailor-made for the QSR environment. Its 32-bit processor and IP-enabled communication modules allow retailers to take advantage of high-speed networks to process any transaction in two to four seconds. Its amazingly small footprint won't clutter up Verb 1. clutter up - fill a space in a disorderly way clutter fill, fill up, make full - make full, also in a metaphorical sense; "fill a container"; "fill the child with pride" the counters and the intuitive ATM-style interface greatly reduces clerk training and errors. Additionally, VeriFone's proprietary multi-application architecture allows retailers to securely run payment and value-added applications like Chockstone's stored value program. Finally, Triple DES See DES. (cryptography) triple DES - A product cipher which, like DES, operates on 64-bit data blocks. There are several forms, each of which uses the DES cipher 3 times. Some forms use two 56-bit keys, some use three. The DES "modes of operation" may also be used with triple-DES. (3DES) and PED n. 1. A basket; a hammer; a pannier. security help stem the tide Stem The Tide An attempt to stop a prevailing trend. Sometimes referred to as "stop the bleeding." Notes: If a stock is continually falling, stemming the tide would be an attempt to halt the free fall and change its direction. See also: Reversal, Trend of fraudulent tactics such as card skimming Skimming An electronic method of capturing a victim's personal information used by identity thieves. The skimmer is a small device that scans a credit card and stores the information contained in the magnetic strip. , and the Omni 3700 supports the entire set of 3DES requirements, including 3DES Master Session and 3DES DUKPT DUKPT Derived Unique Key Per Transaction . About Chockstone, Inc. Chockstone is the Technology Behind Stored Value(TM). As the leading stored value card processor, Chockstone focuses on gift, loyalty, and marketing card programs for multi-unit QSR and retail organizations. Chockstone's services enable retailers to strengthen their relationships with their customers and drive incremental profits. Chockstone was recognized as a leading innovator in the Stored Value Industry by the Oregon Entrepreneurs Forum in 2003. More information at www.chockstone.com. About VeriFone VeriFone, Inc., (http://www.VeriFone.com) recognized worldwide as the trusted leader in secure electronic payment technologies, provides expertise, solutions and services for today with a smart migration strategy for tomorrow. VeriFone is leading the industry in the delivery of solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. VeriFone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare. VeriFone has shipped over eleven million electronic-payment systems. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion