VendTek Introduces Prepaid Services on IP based POS Terminals

Thursday 8 April 2004 11:04 CET | News

VendTek Systems has deployed what the company believes to be the first IP based POS terminals in operation in Canada selling prepaid services and at the same time announced its wholly owned subsidiary Now Prepay Corp. has reached 3500 e-Fresh POS terminal clients in Canada.

VendTek has begun to deploy IP based solutions that enable POS terminals located in retail sites with full time internet connections, to process transactions faster than compared to a telephone dial up method and at a lower cost. The use of a high-speed internet connection to connect with the Now Prepay transaction host server allows transactions to complete in less than 10 seconds. The resulting faster transaction is improving the customer experience and improving the ability for a merchant to sell more products consecutively during peak sales times. VendTek continues to provide innovative solutions, which are being commercialized in Canada by its subsidiary Now Prepay. The new technologies being introduced by VendTek are helping to continually grow the Now Prepay network. VendTek is also marketing this technology in other countries. The POS terminals have been deployed in a wide range of retail sites throughout Canada including several major retail chains. The Company has demonstrated continued growth in revenues with the ongoing deployment of terminals. The Now Prepay POS terminal clients and server create recurring transaction revenues from the sale of prepaid services. Now Prepay began selling services through POS terminals in December 2002.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce