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Table of Contents

Lead Story

MPI restructuring, recovering

News

Industry Update

Discover stretches with strategic partners

Did Diebold patent the future of contactless?

WesPay studies the alternative payments heat

Virtual customers, virtual goods, real money

Prepaid Visa RushCard user wins jackpot

Features

AgenTalkSM:
Gerald 'Gerry' Surell

GS Advisory Board:
Unsettled economic times - boon or bust? Part II

Check 21's 'Top Ten'

Alan Walsh
ATMmarketplace.com

Views

Wise up to wireless

Paul Rasori
VeriFone

Education

Street SmartsSM:
Doing the price thing

Dee Karawadra
Impact PaySystem

Interchange for dummies

Steven Feldshuh
Tribul Merchant Services LLC

How to cure what ails health care

Aaron Bills
3Delta Systems Inc.

Mastering the interchange game

Ken Musante
Humboldt Merchant Services

Cash advance crossroads: High commissions or more sales?

Woochae Chung
American Microloan LLC

Company Profile

Sage Payment Solutions

New Products

Multiple functions, mini POS footprint

Blackstone Merchant Services Register System
Blackstone Merchant Services Inc.

Security in your keystrokes

BioPassword
BioPassword Inc.

Inspiration

Is an independent venture for you?

Miscellaneous

Statement of Ownership

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

October 08, 2007  •  Issue 07:10:01

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Did Diebold patent the future of contactless?

Although using your cell phone to pay for groceries at the local supermarket might still be a few years away, ATM and security system maker Diebold Inc. is positioning itself to lead the way.

Diebold recently divulged that it had been granted five U.S. patents over the last 18 months. These patents range from enabling mobile devices to remotely "order" cash withdrawals from an ATM to substituting a wireless device's keypad and screen for the keypad and screen of an ATM, thereby making it harder for criminals to snatch your PIN number.

According to Jim Block, Diebold Director, Global Adv-anced Technology, the future technology based on these patents will "boost the convenience and personal security factors of using an ATM."

Speed dial for snacks

But the technology will also be available at the POS. Patent 7,207,477, for instance, is the blueprint for technology that will enable your mobile device to electronically pay for items at a self-service checkout.

As stated in the patent's abstract, the wireless device will include a camera and a programmable memory. The device is to work in this way:

No provider is offering this technology yet. But "Diebold is in discussions with technology partners that could bring these applications closer to reality," said Block.

"The know-how to marry mobile devices to ATMs," he continued, "has been lab-tested by Diebold's engineers and could be in users' hands within three to five years, facilitating faster ATM transactions and more of them, in more places and at more hours, with greater peace of mind." The Dove 2006 ATM Deployer Study, which tracked the state of the U.S. ATM industry as of spring 2006, estimated that U.S. ATMs performed 8 billion transactions per year, representing $600 billion in dispersed cash.

Industry experts report that the ATM market is saturated. But possibilities may exist for lucrative new markets in the wireless and cardless transaction arena for merchant level salespeople (MLS) and ISOs.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems