March 20, 2006 - Toronto-based Secure electronic transaction solutions provider Keycorp Limited (ASX: KYC) today announced that it has certified and launched a point of sale (POS) solution that uses secure Internet and Broadband networks to significantly speed up electronic transactions, and reduce customer waiting times at the checkout counter.
Keycorp's K23 Terminal high speed Internet Protocol (IP) solution is being deployed by Toronto-based Collective Point of Sale Solutions (CollectivePOS Canada's leading provider of payment processing services and secure point of sale solutions. The units are being rolled out to small and medium retailers across Canada.
"We're very excited about Keycorp's new K23 Terminal high-speed Internet solution. It provides small and medium retailers with unprecedented transaction speeds, speeding up wait times for customers, and reducing operating costs for merchants," said Michael Back, President of CollectivePOS.
"We expect high-speed Internet to surpass the phone line as the telecommunication medium and Keycorp's new product positions us well to capitalize on this trend."
Utilizing Secure Sockets Layer (SSL) encryption, the K23 Terminal high-speed IP solution, which includes both IP and dial-up capabilities, is among the first POS printer communications modules that allows merchants to make secure transactions over the Internet via broadband networks. A complete stand-alone payment solution that does not require a dial-up connection, the K23 Terminal Dual Comm enables merchants to save the rental cost and inconvenience of maintaining a separate dial-up line for electronic transfers. Merchants also realize savings with the ability to have multiple devices share one high-speed line.
The new unit can connect to the Internet via ADSL, cable or wireless modems. Alternatively, it can use its 10/100 Base-T fast Ethernet interface to connect to the merchant's Local Area Network (LAN).
To protect the data transmission, Keycorp has equipped the product with SSL security. For merchants who wish to retain dial-up connectivity, the new K23 Terminal unit also has an internal high-speed 56K modem.
"Consumers today not only appreciate speedy service, but are disappointed when they don't get it," said Paul DeRosse, Managing Director of Keycorp Canada, in launching the new solution to the North American market.
"Through the use of IP, which lays the foundation for the future of electronic transactions, Keycorp's K23 Terminal IP solution can process transactions in less than five seconds, as compared to 10 to 20 seconds with a standard dial-up network. This translates into significantly shorter waiting times for customers, and greater efficiencies for retailers."
CollectivePOS's Back agrees: "Our merchants are focused on decreasing the time it takes to get customers through the checkout, and Keycorp's K23 Terminal IP unit delivers just that, efficiently and securely."
About Keycorp
Keycorp Limited (ASX: KYC) is a global provider of secure electronic transactions: with solutions from smartcards and point-of-service transaction systems to payment engines and managed services.
Keycorp's electronic payment terminals include smartcard-capable online and offline terminals capable of processing credit, charge, debit and stored value transactions. The terminals are designed for use at a retail point of sale, over the phone, in mobile environments or via the Internet, and can communicate with host systems via fixed or mobile communications. Keycorp is a founding member of the MULTOS consortium, which has responsibility for developing the MULTOS multi-application smartcard operating system. Keycorp develops and distributes smartcard operating systems such as MULTOS, as well as smartcard applications.
Keycorp's e-commerce platform delivers secure and truly end-to-end online transaction processing interfacing services like IVR (integrated voice response), call centres, mail, telephone or fax ordering and Internet based transactions.
About Keycorp Canada
Keycorp Canada, located in Toronto, Ontario, is a leading Canadian provider of electronic transaction solutions and one of the fastest-growing distributors of POS hardware and software in North America. A wholly-owned subsidiary of Sydney, Australia-based Keycorp Limited, Keycorp Canada delivers innovative, reliable end-to-end systems to customers from coast to coast, including major retailers, oil and gas companies, payment processors, ISOs, distributors and resellers in Canada and the U.S. The company has an in-house expert development team, and complete local customer support and maintenance program. |
