Smart Technology Solutions Limited (STS), an innovator in providing smart card solutions, announces the launch of its contactless payment system, Touchlink. Touchlink, based on its award-winning Emvelink, a plug-in for the STS SmartNS framework, offers all retailers and banks a versatile platform for the introduction of contactless payment schemes.
Crucially, the flexible payment solution supporting EMV (EuroPay, MasterCard, Visa) contactless systems - the global standard infrastructure behind chip and PIN - can plug straight into existing chip & PIN systems. Touchlink allows merchants a simple path to upgrade to this new form of contactless payment, providing a cost effective approach, independent of hardware.
The innovative technology has the ability to use in expensive thin-client hardware readers and will initially support ViVOtech's ViVOpay 5000 EMV contactless reader, with new hardware vendors supported by Christmas 2007.
Contactless payment technology provides a secure payment mechanism using wireless communication technology. By the end of 2008 APACS (the UK payments association) predict that 5 million contactless cards will be in circulation and will be accepted by at least 1000,000 merchants.
Cameron Olsen, vice president of business development at STS, comments: "Touchlink, designed for high volume, low value transactions is particularly suited to retail environments such as food outlets, newsagents, off licences, bars, pubs and parking facilities - all of which tend to have a high cash turnover and where rapid checkout times and convenience of payment are essential."
Additionally Touchlink, using the STS SmartNS framework, also caters for the introduction of further smart card applications in the future, such as contactless loyalty applications and gift card applications as they come to market.
Cameron Olsen, adds: "The arrival of Touchlink is an opportunity for retailers and banks to take advantage of their EMV technology to enhance their business performance and customer satisfaction with only a modest investment. We anticipate considerable take-up of the technology by the UK's retailers through the course of 2007 and beyond."