Asia Payments Systems Inc. Launches IP-Based Card12 January 2005
Asia Payment Systems, Inc. (OTC BB: APYM) today announced the "go-live" of the IP-based system in the new Galleria store in Okinawa which opened in mid-December.
"The Asia Payment solution is a first for the Japanese market," said Matt Mecke, President & CEO of Asia Payments. "No other international IP-based system can support the complexities of the Japanese credit card system as we do. Most Japanese card issuers offer their customers a number of delayed payment mechanisms known as JPOs (Japan Payment Options) which are designed to encourage ease of spending by providing flexibility of payment terms in line with customers' personal salary and bonus payment schedules -- the Asia Payment solution is quite unique.
"We expect other multinational chains to follow the DFS lead and thereby gain considerable operational advantage because our middleware opens up legacy systems to new technology. The architecture supports both dial-up analog and networked digital POS terminals for all message formats, including legacy and the latest technologies, and provides transparent access to banking systems in our target countries.
"The new credit card processing system will enable DFS to reduce transaction costs and also to lessen integration costs in other countries in the region. They no longer need to do country by country integration for credit card systems and can leverage aggregated transaction volumes to attract better rates."
The IP-based solution allows retailers to be independent of financial organizations and be able to "shop around" for card processing discount rates thereby reducing their cost of doing business and adding to the bottom line without any customer impact.
Source: Market Wire
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