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MERCHANT BANK SERVICES INTRODUCES POS-PORT -- NEW PAYMENT CARD AUTHORIZATION DEVICE

 NEW YORK, Jan. 18 /PRNewswire/ -- Merchant Bank Services (a Visa member-owned joint venture) today announced a new payment card authorization device. POS-port(TM) for merchants who use electronic cash register (ECR) systems. Unveiled at the national Retail Federation Conference here, POS-port dramatically improves retailers' service to customers by delivering credit and debit card approvals within 6-8 seconds over standard dial telecommunications lines.
 POS-port connects a retailer's in-store ECR system with VisaNet, the Visa global payment system to provide processing for credit and debit transactions. It also transmits store management data such as sales/audit logs, inventory files, shipping notices and payroll information from store locations to a headquarters' computer.
 First of its kind to offer "multi-leaved" transaction processing, POS-port serves as an "electronic traffic cop." The device enables retailers with multiple checkout counters to process payment transactions on demand, independent of all other checkout station requests.
 Visa U.S.A. developed POS-port in response to demand by acquiring banks seeking to cost-effectively enhance the speed and reliability of their merchants' electronic cash register systems.
 "POS-port addresses the needs of multi-lane retailers by providing leased-line performance at dial-up prices," said Jeffrey C. Connelly, senior vice president, Merchant Bank Services. "When a card is presented for payment, approvals must be obtained quickly and effortlessly to ensure that customers are not inconvenienced. POS- port's speed and reliability enable merchants to increase shopper satisfaction at the point of sale," he added.
 POS-port is easy to install, connecting to a retailer's in-store system. Because POS-port uses existing standard telecommunications lines, it eliminates the time and expense of new line and equipment charges.
 Connelly continued, "Currently, POS-port uses Feature Group B dial telecommunications service, but it is engineered to take advantage of future technological advances such as Virtual Private Line (VPL) service." He explained that VPL is expected to be made available nationally by telecommunications service providers and VisaNetheir service. Retailers will receive the latest technologies to continually increase their individual processing performance," he said.
 Visa U.S.A. has begun working with major ECR manufacturers to program the POS-port interface into equipment at their factories. "It's similar in concept to cable-ready televisions," said Connelly. "In the near future, POS-port-ready ECR systems will require no merchant programming," he concluded.
 Merchant Bank Services is a separate member-owned, not-for-profit company formed by Visa U.S.A. to serve as the primary U.S. distributor of Visa merchant processing services and to enhance Visa member bank profitability in the merchant business.
 Visa is the largest consumer payment card system in the world with more than 10 million acceptance locations and 291 million cards issued worldwide (including 144 million in the United States). Visa also has the leading global ATM network.
 NOTE: POS-port is a trademark of Visa International.
 The National Retail Federation (NRF) is the largest retail trade association in the nation. The NRF Conference and Exposition is the most important and well-attended conference in the retailing industry. More than 15,000 attendees from around the world are expected.
 The retail industry in the United States is a $1.8 trillion industry, employing 19.3 million people in more than one million retail establishments.
 -0- 1/18/93
 /CONTACT: Albert Coscia of Visa U.S.A., 212-247-2200, Room 1501/


CO: Merchant Bank Services; Visa U.S.A. ST: California, New York IN: FIN SU: PDT

SG-GT -- SF002 -- 5692 01/18/93 07:31 EST
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Date:Jan 18, 1993
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