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Press Announcement: Trintech Support Major Retailers at the UK's Northampton Chip and PIN Trials
Added: (Mon Jun 02 2003)
Trintech Support Major Retailers at the UK's Northampton Chip and PIN Trials
Trintech's PayWare SmartPIN to be Deployed at Wilkinson and Other Leading Retail Outlets in Northampton to enable acceptance of Chip and PIN Transactions
London, UK/Dublin, Ireland - 2 June 2003 - Trintech Group Plc (NASDAQ: TTPA, Prime Standard TTP), a leading provider of secure payment infrastructure solutions, today announced their comprehensive involvement in the Northampton Chip and PIN trials, partnering with Wilkinson retail outlets and other leading retail brands on the high street.
The Northampton town trails started in May as an initial step towards national rollout scheduled for completion by 2005. The trial involves re-issuing new chip and PIN cards to a significant number of Northampton cardholders, and upgrading point-of-sale terminals at a selection of retail outlets. During the trial, Northampton consumers will be prompted to use their PIN for one in every two or three transactions, using a range of debit and credit cards, and will thus become the UK's first Chip and PIN users. American Express, Barclaycard, Barclays Bank plc, the Co-operative Bank, Egg, Girobank Merchant Services, HSBC, Lloyds TSB, MasterCard, The Royal Bank of Scotland Group, Switch and Visa are all participating in the trial.
Following Trintech's recent success in becoming the first vendor to achieve UK acquirer accreditation for integrated Chip and PIN solutions within Wilkinson stores, Trintech is now working closely with a number of other major retailers participating in the Northampton town trials, demonstrating the benefits and abilities of Trintech's SmartPIN solution that is designed to support and integrate with a wide variety of existing point of sale and card payment environments.
"PayWare SmartPIN is cost-effective and provides us with a solution that does not require major changes to our existing point-of-sale systems," said Eddie Clerck, Systems Development Controller at Wilkinson. "Chip and PIN is the future for card payments in the UK and we wanted to be at the forefront of this new payment revolution. We chose Trintech specifically because of its track record in successful implementations and its desire to work with us through the trial period to full roll-out."
PayWare SmartPIN is a secure, standards-compliant, end-to-end chip card solution that helps smooth the transition to chip and PIN. The SmartPIN solution includes the PIN Pad hardware, EMV software application, and API which enables easy communication with any POS system.
PayWare SmartPIN is designed to tackle the growing fraud problem in markets such as the UK. With counterfeit and stolen cards accounting for the majority of all fraud, magnetic stripe technology with signature authentication has been identified as a primary weakness in the current system. PayWare SmartPIN allows merchants and acquirers to benefit from increased security because chip cards are extremely difficult to counterfeit and PIN verification is inherently more secure than a signature. The UK banking industry has mandated that, by 1 January 2005, any UK retailer that does not accept chip cards authenticated by PIN will be fully liable for all card fraud.
For further information on:
Trintech's chip and PIN solution go to: www.pinpad.co.uk.
The Northampton chip and PIN trials go to: www.chipandpin.co.uk
About PayWare SmartPIN
PayWare SmartPIN is aimed at merchants and retailers that have immediate requirements for a secure and standards-compliant Chip and PIN solution that can integrate seamlessly with new or existing electronic point-of-sale (EPoS) infrastructure. The solution includes Trintech's proven PIN Pad hardware and EMV application to enable chip card acceptance with PIN authentication in any EPoS system.
PayWare SmartPIN is designed to tackle the growing fraud problem in markets such as the UK. Recent statistics suggest that card fraud costs the industry £400 million annually and is rising at 55 percent each year. With counterfeit and stolen cards accounting for the majority of all fraud, magnetic stripe technology with signature authentication has been identified as a primary weakness of the current system. PayWare SmartPIN allows merchants and acquirers to benefit from increased security, since chip cards are extremely difficult to counterfeit and PIN verification is inherently more secure than a signature. For more information on Trintech's SmartPIN solution visit our dedicated website: www.pinpad.co.uk.
About Trintech
Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for traditional commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully compliant to industry security standards. Trintech's range of scalable open systems architecture solutions for UNIX® and Windows NT™ platforms covers consumer, merchant and financial institution requirements for traditional payments and the emerging world of electronic commerce. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (T: +353-1-207-4000), the US at 15851 Dallas Parkway, Suite 940, Addison, TX 75001 (T. +1-972-701-9802), and Germany at Siemenstraße 20, 63263 Neu-Isenburg (T:+49 6102 7850).
www.trintech.com
About Wilkinson
Founded in 1930 by JK Wilkinson, the company was created to deliver his vision of providing customers with extensive choice allied to the highest possible standards of service - but at the lowest possible prices. Details of where to find Wilkinson stores and general information on recruitment and products can be found on the company's website at www.wilko.co.uk
Press Contact Details:
Trintech
Jackie Seear, The Verbal. Email: Jackie@the-verbal.co.uk
T: 01932 224411. M: 07739 170663