Checks ? Here Today, Here Tomorrow Visa and ... - The Green Sheet

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"Our new wireless epic ICE terminals from Hypercom allow us to check our warehouse inventory wherever we are. When we're onsite with a customer, we can check parts availability with the touch of a button. We can now accept credit and debit cards at the customer's location, helping us reduce the risk of accepting bad checks. It's much more than just another credit card device — it's technology that has changed and improved the way we do business." Hypercom helps mobile merchants compete at a whole new level The epic ICE family of electronic payment terminals increases service performance for the mobile merchant giving them the advantage they need to compete. Instantly access inventory database via Internet Eliminate multiple trips to a fixed countertop POS terminal Electronic Receipt Capture saves time and money and reduces chargebacks Card never leaves consumer increasing security Intuitive interface makes consumer usage a breeze Smart card-ready, protecting your investment today and tomorrow with HyperSmart ® To find out how Hypercom can help you compete at a whole new level, call 1-877-HYPERCOM or click www.hypercom.com Mobile merchants benefit by having Hypercom on their team © 2001 Hypercom Corporation. All rights reserved.
Page 19 ment system, and by so doing it dropped out of the P2P space. However, the PayPal solution sparked quite a lot of interest among major manufacturers of point-of-sale (POS) terminals as well as among the smaller players in the financial services software and hardware developer community. A number of groups began to experiment with things like “mobile merchant solutions” based on infrared communications. Typically, the tests have been clever assemblages of handheld computers equipped with a magnetic stripe card reader. At transaction time, the devices communicate with a host system through the infrared port to transmit consumer payment data. In a unique synchronicity of idea and execution, Harex IT, a Korean company, and the Infrared Data Association (IrDA), as separate efforts, simultaneously began to develop a working model of a proximity payment system as well as the groundwork for a standardized financial messaging system. By January 2001, after having joined IrDA, Harex IT committed to developing its solution around the IrFM standard and moved on to building a citywide payment program in Seoul. It also has submitted bids to build part of the national payment infrastructure in Singapore. Most recently, the company has presented proposals to the University of Southern California in the U.S. and Cambridge University in Great Britain to enable on-campus payments systems for the respective student bodies. Radio Frequency Experiments Another early experiment in wireless proximity payments was assembled in Finland. This one was based on telephone radio waves. Nokia, one of the world’s largest mobile phone manufacturers, joined with a mobile telecommunication services provider to create a system that made it possible to buy a soft drink from a vending machine by using a cell phone to make payment. The price of the soda, or a number of other products, appeared later on the user’s telephone bill. Several similar telecommunications prototypes have made it possible for people in Europe and in places throughout the Pacific Rim to buy groceries, movie tickets and golf balls with a few simple key presses on their portable phones.
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