DataCash in collaboration with IBM

DataCash Group is working with IBM to help mid-tier retailers implementing the Chip and PIN systems being introduced in January 2005. DataCash which up until now has focused on processing cardholder not present online transactions. The high street market represents the overwhelming majority of card transactions. Chip and PIN is designed to prevent fraud by obliging consumers to use a secret PIN when they use their credit cards to purchase goods in the high street. Many of the countrys big retailers, such as the supermarkets, are already installing the technology but there is strong evidence that smaller, mid-tier, traders are finding the cost of upgrading legacy software systems and hardware too expensive. The initial team, led by The Triangle Group (an IBM Premier Business Partner), addresses the concerns of the mid-tier retail sector by offering a complete solution for a low fixed monthly charge of around £25 per terminal. The solution consists of consultancy, hardware, software, implementation and payment processing. The team has identified a target market of mid-tier retailers which may be attracted by the package. Initially DataCash will contribute its outsourced payment processing and fraud management capabilities to the team. These skills have been built up around the mission critical requirements of its existing online client base that already includes some blue-chip names including B&Q, Boots, Mothercare and Early Learning Centre. Once deployed, retailers will also be able to benefit from additional value added services delivered through DataCashs outsourced payment processing platform including Dynamic Currency Conversion, stored value, gift card and mobile top-up. It is anticipated these value added services will provide mid-tier retailers with further support for the business case to deploy Chip and PIN through the team.