INGENICO SELECTED BY FIRST DATA TO DEVELOP NEXT GEN EFT POS TERMINAL.Ingenico Corp., the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. subsidiary of Ingenico S.A., and First Data Corp (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ) have announced that they have reached a multi-year agreement to develop and supply the next generation in Electronic Funds Transfer/Point of Sale (EFT POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) terminals. The relationship brings together two worldwide leaders in payment services and technology. First Data is a global leader in electronic commerce and payment services. Ingenico is a worldwide leader in EFT POS terminal shipments and secure transaction technology. Terms of the agreement were not disclosed. The first-of-a-kind EFT POS terminal will incorporate both present and future requirements for First Data subsidiaries that provide transaction services at the point-of-sale, including Western Union and First Data Merchant Services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or . The feature-rich device will be smart card and signature-capture enabled, and will be capable of accepting virtually all forms of payment. It also will support future payment developments. This new technology will allow First Data to consolidate point-of-sale services, reducing merchant costs, hardware requirements and training time while also freeing valuable retail counter space. The single, easy-to-use interface will support a wide range of First Data products and services, facilitating enterprise-wide agreements with clients. Such agreements have the potential to reduce overall costs for both First Data and its clients and could potentially increase customer traffic at merchant locations. Michael Yerington, president, Western Union 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. stated, "Our relationship with Ingenico creates the solid base of technological and industry expertise we need to make this project a success. The resulting terminal will address the needs of First Data subsidiaries, enabling us to improve payment and service delivery efficiency while greatly improving our ability to cross-sell services, resulting in stronger brand identity and increased profitability. This device will be a powerful addition to an already robust product line." Jean Jacques Poutrel, chairman of Ingenico Corp. and chairman and chief executive officer of Ingenico S.A. stated, "Our agreement with First Data is an acknowledgment of Ingenico's global leadership in payment terminal technology and clearly demonstrates Ingenico's total commitment to the North American market." First Data Corp. (NYSE: FDC), with global headquarters in Denver, powers the global economy. As the leader in electronic commerce and payment services, First Data serves approximately 2.6 million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using virtually any form of payment. With 28,000 employees worldwide, the company provides credit, debit, smart card and stored-value card A smart card that is "loaded" with cash. See smart card. issuing and merchant 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. services; Internet commerce solutions; Western Union money transfers and money orders; and check processing and verification services throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , United Kingdom, Australia, Canada, Japan, Mexico, Spain, the Netherlands, the Netherlands, The officially Kingdom of The Netherlands byname Holland Country, northwestern Europe. Area: 16,034 sq mi (41,528 sq km). Population (2005 est.): 16,300,000. Capital: Amsterdam. Seat of government: The Hague. Most of the people are Dutch. Middle East and Germany. Its money transfer agent network includes approximately 117,000 locations in more than 185 countries and territories. Ingenico S.A. is a leading provider of smart card secured transaction products and systems with subsidiaries and partnerships all over the world and customers in over 70 countries and territories. It's subsidiary Ingenico Corp. provides hardware, software and services to the ever-expanding transaction needs of the North American marketplace, which demands quality and requires flexible and robust payment solutions. Our solutions include the Elite terminal family, which is built upon the Unicapt architecture for optimum application portability and secure multi-application acceptance, and was the first to be EMVco approved. [sections] |
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