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‘Most Innovative Product Of The Year’
Source:retail-logic, Source date:
At the recent Advanced Card Awards, Retail Logic won the award for ‘Most Innovative Product of the Year’ for Smart-Solution™, the world’s first fully functional solution for integrated EPoS equipment processing both Chip and PIN transactions. Retail Logic’s Smart-Solution™ was shortlisted alongside entries from ORGA, Banksys & Oberthur Card Systems and Prism.
The Awards, held at the Intercontinental Hotel, Hyde Park Corner, London, were judged by a team of industry experts who unanimously awarded Smart-Solution™ this accolade in the face of strong competition. The citation from the Judges was “Smart-Solution™ from Retail Logic demonstrates market-leading innovation in retail-focused EMV capability. It offers both merchants and consumers substantial benefits in the near and long term. Importantly, Smart-Solution illustrates the path that the Smart Card industry will follow towards an EMV Smart Card in every wallet _ a Smart Card that is used regularly and habitually.
”On collecting the award Vicki Kirk, Retail Logic’s Marketing Manager said, “We are delighted to have won this award and to have received the acknowledgement by the Smart Card industry of the importance of this solution. With liability for most cases of fraud shifting from the Issuers at the end of 2004, Smart-Solution™ is set to provide retailers with a fast, efficient and cost-effective way of carrying out ‘Smart’ transactions, which will lessen the potential losses that can be incurred from accepting credit and debit cards. The solution is already being implemented by one of the UK’s leading high street retailers and we are also in discussions with other major retailers who take the majority of the transactions in the UK through their stores.”
Smart-Solution™ is a global solution that is ready to meet the needs of any merchant that accepts credit cards. The solution has been developed well in advance of the mandates set by EMVCo for the migration to Chip based EFTPoS systems by 1st January 2005. Smart-Solution™ both processes Smart Cards and supports magnetic stripe cards. It is capable of processing Smart Cards in as little as 2.7 seconds, which is comparable to magnetic stripe transactions, ensuring that retailers can maintain a fast throughput of customers at the Point of Sale.
“Winning this award is further illustration of Retail Logic’s commitment to continue to deliver solutions that are both technologically advanced and meet the needs of our customers.” Kirk concluded.
Smart-Solution™ was launched in October 2001 at the Cartes exhibition in Paris. It is the first integrated solution to be accredited to the stringent EMV Level 2 standard.
